First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) Sees Large Increase in Short Interest

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) was the target of a large growth in short interest in September. As of September 15th, there was short interest totalling 29,300 shares, a growth of 6.5% from the August 31st total of 27,500 shares. Based on an average daily volume of 27,100 shares, the short-interest ratio is presently 1.1 days.

Hedge Funds Weigh In On First Trust Alternative Absolute Return Strategy ETF

Several hedge funds and other institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC acquired a new position in shares of First Trust Alternative Absolute Return Strategy ETF in the 2nd quarter valued at about $411,000. Cetera Investment Advisers lifted its stake in shares of First Trust Alternative Absolute Return Strategy ETF by 3.0% in the 2nd quarter. Cetera Investment Advisers now owns 115,615 shares of the company’s stock valued at $3,285,000 after purchasing an additional 3,358 shares in the last quarter. Hershey Financial Advisers LLC acquired a new position in shares of First Trust Alternative Absolute Return Strategy ETF in the 2nd quarter valued at about $51,000. Horizon Advisory Services Inc. lifted its position in First Trust Alternative Absolute Return Strategy ETF by 4.1% during the 2nd quarter. Horizon Advisory Services Inc. now owns 635,544 shares of the company’s stock worth $18,056,000 after acquiring an additional 24,889 shares in the last quarter. Finally, Bank of Montreal Can acquired a new position in First Trust Alternative Absolute Return Strategy ETF during the 2nd quarter worth approximately $756,000.

First Trust Alternative Absolute Return Strategy ETF Stock Performance

Shares of NASDAQ FAAR traded down $0.02 during midday trading on Tuesday, hitting $27.81. The stock had a trading volume of 24,005 shares, compared to its average volume of 34,698. First Trust Alternative Absolute Return Strategy ETF has a 1-year low of $27.10 and a 1-year high of $29.44. The company has a fifty day moving average price of $28.32 and a 200 day moving average price of $28.50.

First Trust Alternative Absolute Return Strategy ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 26th were paid a $0.201 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Thursday, September 26th.

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.