Bank of America Corp DE Sells 2,234 Shares of AltShares Merger Arbitrage ETF (NYSEARCA:ARB)

Bank of America Corp DE reduced its position in AltShares Merger Arbitrage ETF (NYSEARCA:ARB) by 13.7% in the 4th quarter, Holdings Channel reports. The firm owned 14,065 shares of the company’s stock after selling 2,234 shares during the quarter. Bank of America Corp DE’s holdings in AltShares Merger Arbitrage ETF were worth $387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Atria Wealth Solutions Inc. acquired a new stake in shares of AltShares Merger Arbitrage ETF in the fourth quarter valued at $233,000. HighTower Advisors LLC grew its position in shares of AltShares Merger Arbitrage ETF by 1.4% during the 4th quarter. HighTower Advisors LLC now owns 94,524 shares of the company’s stock worth $2,602,000 after buying an additional 1,276 shares during the period. Steward Partners Investment Advisory LLC grew its position in shares of AltShares Merger Arbitrage ETF by 68.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,856 shares of the company’s stock worth $161,000 after buying an additional 2,375 shares during the period. LPL Financial LLC acquired a new position in shares of AltShares Merger Arbitrage ETF during the 4th quarter worth about $218,000. Finally, Envestnet Portfolio Solutions Inc. grew its position in shares of AltShares Merger Arbitrage ETF by 22.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,446 shares of the company’s stock worth $370,000 after buying an additional 2,470 shares during the period.

AltShares Merger Arbitrage ETF Price Performance

NYSEARCA:ARB opened at $28.32 on Friday. AltShares Merger Arbitrage ETF has a fifty-two week low of $25.81 and a fifty-two week high of $28.75. The stock has a market capitalization of $86.66 million, a PE ratio of 17.48 and a beta of 0.09. The business’s 50-day simple moving average is $28.20 and its 200-day simple moving average is $28.01.

AltShares Merger Arbitrage ETF Company Profile

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.