HighTower Advisors LLC Has $2.57 Million Position in AltShares Merger Arbitrage ETF (NYSEARCA:ARB)

HighTower Advisors LLC lifted its holdings in AltShares Merger Arbitrage ETF (NYSEARCA:ARB) by 1.8% during the third quarter, HoldingsChannel reports. The firm owned 93,248 shares of the company’s stock after purchasing an additional 1,666 shares during the period. HighTower Advisors LLC’s holdings in AltShares Merger Arbitrage ETF were worth $2,570,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ARB. Harbour Investments Inc. raised its stake in AltShares Merger Arbitrage ETF by 28.9% during the 3rd quarter. Harbour Investments Inc. now owns 99,492 shares of the company’s stock valued at $2,758,000 after purchasing an additional 22,296 shares during the last quarter. Atria Investments Inc raised its position in shares of AltShares Merger Arbitrage ETF by 5.1% during the third quarter. Atria Investments Inc now owns 30,045 shares of the company’s stock valued at $833,000 after buying an additional 1,461 shares during the last quarter. Diversify Advisory Services LLC lifted its stake in shares of AltShares Merger Arbitrage ETF by 3.7% in the third quarter. Diversify Advisory Services LLC now owns 63,026 shares of the company’s stock valued at $1,759,000 after buying an additional 2,239 shares during the period. Cantor Fitzgerald Investment Advisors L.P. grew its position in AltShares Merger Arbitrage ETF by 20.9% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 538,582 shares of the company’s stock worth $14,929,000 after buying an additional 93,043 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC bought a new position in AltShares Merger Arbitrage ETF during the third quarter valued at about $303,000.

AltShares Merger Arbitrage ETF Trading Up 0.1 %

Shares of ARB stock opened at $27.77 on Friday. AltShares Merger Arbitrage ETF has a 12 month low of $25.81 and a 12 month high of $28.30. The company has a market capitalization of $72.47 million, a P/E ratio of 17.48 and a beta of 0.08. The stock has a 50 day moving average of $27.87 and a two-hundred day moving average of $27.50.

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.