HighTower Advisors LLC Raises Position in AltShares Merger Arbitrage ETF (NYSEARCA:ARB)

HighTower Advisors LLC grew its holdings in shares of AltShares Merger Arbitrage ETF (NYSEARCA:ARB – Get Rating) by 27.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 73,557 shares of the company’s stock after purchasing an additional 15,969 shares during the quarter. HighTower Advisors LLC’s holdings in AltShares Merger Arbitrage ETF were worth $1,882,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ARB. Bank of New York Mellon Corp purchased a new stake in shares of AltShares Merger Arbitrage ETF during the 1st quarter valued at $1,766,000. Cetera Investment Advisers purchased a new stake in shares of AltShares Merger Arbitrage ETF during the 1st quarter valued at $414,000. Jane Street Group LLC purchased a new stake in shares of AltShares Merger Arbitrage ETF during the 2nd quarter valued at $225,000. UBS Group AG raised its stake in AltShares Merger Arbitrage ETF by 73.6% in the 3rd quarter. UBS Group AG now owns 2,067 shares of the company’s stock worth $55,000 after acquiring an additional 876 shares during the last quarter. Finally, Quantitative Advantage LLC purchased a new position in AltShares Merger Arbitrage ETF in the 3rd quarter worth $1,260,000.

AltShares Merger Arbitrage ETF Price Performance

Shares of ARB stock opened at $24.81 on Thursday. The firm has a market capitalization of $60.04 million, a price-to-earnings ratio of 17.48 and a beta of 0.07. The business has a fifty day moving average of $25.30 and a 200 day moving average of $25.71. AltShares Merger Arbitrage ETF has a 1 year low of $24.50 and a 1 year high of $27.80.

AltShares Merger Arbitrage ETF Profile

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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.