Envestnet Asset Management Inc. Sells 32,460 Shares of First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR)

Envestnet Asset Management Inc. lowered its holdings in First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR – Get Rating) by 6.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 510,533 shares of the company’s stock after selling 32,460 shares during the period. Envestnet Asset Management Inc. owned approximately 10.11% of First Trust Alternative Absolute Return Strategy ETF worth $17,287,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Oakworth Capital Inc. bought a new stake in shares of First Trust Alternative Absolute Return Strategy ETF in the fourth quarter valued at approximately $41,000. Advisors Preferred LLC purchased a new position in First Trust Alternative Absolute Return Strategy ETF during the fourth quarter valued at approximately $181,000. FSB Premier Wealth Management Inc. purchased a new position in First Trust Alternative Absolute Return Strategy ETF during the fourth quarter valued at approximately $247,000. Walkner Condon Financial Advisors LLC purchased a new position in First Trust Alternative Absolute Return Strategy ETF during the first quarter valued at approximately $360,000. Finally, Holloway Wealth Management LLC grew its stake in First Trust Alternative Absolute Return Strategy ETF by 11.5% during the fourth quarter. Holloway Wealth Management LLC now owns 10,708 shares of the company’s stock valued at $308,000 after acquiring an additional 1,101 shares in the last quarter.

First Trust Alternative Absolute Return Strategy ETF Stock Down 0.4 %

Shares of NASDAQ:FAAR opened at $32.26 on Thursday. The company has a 50 day moving average of $33.58 and a 200 day moving average of $33.18. First Trust Alternative Absolute Return Strategy ETF has a 12 month low of $28.54 and a 12 month high of $37.94.

First Trust Alternative Absolute Return Strategy ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Monday, June 27th were paid a dividend of $0.003 per share. The ex-dividend date was Friday, June 24th. This represents a $0.01 annualized dividend and a yield of 0.04%.