Mercer Global Advisors Inc. ADV Trims Stake in First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR)

Mercer Global Advisors Inc. ADV lowered its holdings in First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) by 13.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,189 shares of the company’s stock after selling 4,326 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in First Trust Alternative Absolute Return Strategy ETF were worth $801,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Horizon Advisory Services Inc. purchased a new position in shares of First Trust Alternative Absolute Return Strategy ETF in the 1st quarter worth about $17,581,000. Jane Street Group LLC raised its stake in shares of First Trust Alternative Absolute Return Strategy ETF by 180.0% during the first quarter. Jane Street Group LLC now owns 323,350 shares of the company’s stock worth $9,309,000 after acquiring an additional 207,860 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of First Trust Alternative Absolute Return Strategy ETF by 7.4% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 79,859 shares of the company’s stock worth $2,184,000 after acquiring an additional 5,516 shares during the last quarter. Orion Portfolio Solutions LLC boosted its stake in shares of First Trust Alternative Absolute Return Strategy ETF by 19.1% in the 4th quarter. Orion Portfolio Solutions LLC now owns 44,362 shares of the company’s stock valued at $1,216,000 after purchasing an additional 7,113 shares in the last quarter. Finally, Coppell Advisory Solutions Corp. bought a new position in shares of First Trust Alternative Absolute Return Strategy ETF during the 1st quarter valued at $1,204,000.

First Trust Alternative Absolute Return Strategy ETF Stock Performance

FAAR opened at $27.84 on Friday. The stock’s 50 day simple moving average is $28.36 and its 200 day simple moving average is $28.51. First Trust Alternative Absolute Return Strategy ETF has a 1 year low of $27.10 and a 1 year high of $29.44.

First Trust Alternative Absolute Return Strategy ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 26th will be paid a dividend of $0.201 per share. The ex-dividend date is Thursday, September 26th. This represents a $0.80 annualized dividend and a dividend yield of 2.89%.

First Trust Alternative Absolute Return Strategy ETF Company Profile

The First Trust Alternative Absolute Return Strategy ETF (FAAR) is an exchange-traded fund that is based on the db Liquid Commodity index. The fund is an actively-managed fund that, through a subsidiary, provides broad long\u002Fshort exposure to commodity futures contracts. FAAR was launched on May 18, 2016 and is managed by First Trust.