Harbour Investments Inc. Increases Stake in AltShares Merger Arbitrage ETF (NYSEARCA:ARB)

Harbour Investments Inc. lifted its stake in AltShares Merger Arbitrage ETF (NYSEARCA:ARB) by 5.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 104,630 shares of the company’s stock after purchasing an additional 5,138 shares during the quarter. Harbour Investments Inc.’s holdings in AltShares Merger Arbitrage ETF were worth $2,880,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC raised its position in shares of AltShares Merger Arbitrage ETF by 68.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,856 shares of the company’s stock valued at $161,000 after purchasing an additional 2,375 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new position in AltShares Merger Arbitrage ETF during the 4th quarter worth approximately $233,000. Envestnet Portfolio Solutions Inc. raised its position in AltShares Merger Arbitrage ETF by 22.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,446 shares of the company’s stock worth $370,000 after buying an additional 2,470 shares during the last quarter. Dynamic Advisor Solutions LLC raised its position in AltShares Merger Arbitrage ETF by 37.4% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 15,010 shares of the company’s stock worth $413,000 after buying an additional 4,084 shares during the last quarter. Finally, Columbus Macro LLC raised its position in AltShares Merger Arbitrage ETF by 77.4% during the 4th quarter. Columbus Macro LLC now owns 25,145 shares of the company’s stock worth $692,000 after buying an additional 10,972 shares during the last quarter.

AltShares Merger Arbitrage ETF Stock Performance

ARB opened at $28.14 on Monday. AltShares Merger Arbitrage ETF has a 12-month low of $25.81 and a 12-month high of $28.49. The firm has a market capitalization of $80.48 million, a PE ratio of 17.48 and a beta of 0.09. The firm has a 50 day moving average of $27.99 and a two-hundred day moving average of $27.85.

AltShares Merger Arbitrage ETF Announces Dividend

The firm also recently declared a dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, December 18th were given a dividend of $0.3092 per share. The ex-dividend date of this dividend was Wednesday, December 18th.

About AltShares Merger Arbitrage ETF

The AltShares Merger Arbitrage ETF (ARB) is an exchange-traded fund that mostly invests in long\u002Fshort alternatives. The fund tracks a global USD-hedged index that uses a merger arbitrage strategy by providing long exposure to takeover targets and short exposure the acquiring company. ARB was launched on May 7, 2020 and is managed by Altshares.