First Trust Merger Arbitrage ETF (NYSEARCA:MARB) Sees Significant Increase in Short Interest

First Trust Merger Arbitrage ETF (NYSEARCA:MARB) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 10,491 shares, an increase of 496.8% from the December 31st total of 1,758 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 14,158 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily trading volume, of 14,158 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.6% of the shares of the company are short sold.

First Trust Merger Arbitrage ETF Stock Performance

MARB stock opened at $20.70 on Wednesday. The stock has a fifty day moving average of $20.66 and a 200-day moving average of $20.60. First Trust Merger Arbitrage ETF has a fifty-two week low of $19.49 and a fifty-two week high of $22.33. The company has a market capitalization of $38.30 million, a price-to-earnings ratio of 20.69 and a beta of 0.03.

Institutional Trading of First Trust Merger Arbitrage ETF

Several hedge funds and other institutional investors have recently modified their holdings of MARB. Assetmark Inc. raised its holdings in First Trust Merger Arbitrage ETF by 65.6% during the 4th quarter. Assetmark Inc. now owns 106,302 shares of the company’s stock valued at $2,194,000 after acquiring an additional 42,126 shares during the period. Citadel Advisors LLC purchased a new position in shares of First Trust Merger Arbitrage ETF in the third quarter valued at $832,000. Center For Asset Management LLC bought a new stake in shares of First Trust Merger Arbitrage ETF during the 4th quarter valued at $739,000. Coppell Advisory Solutions LLC lifted its holdings in First Trust Merger Arbitrage ETF by 36.4% during the 2nd quarter. Coppell Advisory Solutions LLC now owns 110,466 shares of the company’s stock worth $2,249,000 after purchasing an additional 29,464 shares in the last quarter. Finally, Simplicity Wealth LLC boosted its stake in First Trust Merger Arbitrage ETF by 109.7% in the 2nd quarter. Simplicity Wealth LLC now owns 45,920 shares of the company’s stock worth $939,000 after purchasing an additional 24,026 shares during the period.

About First Trust Merger Arbitrage ETF

The First Trust Vivaldi Merger Arbitrage ETF (MARB) is an exchange-traded fund that mostly invests in long\u002Fshort alternatives. The fund is an actively-managed global fund that uses a merger arbitrage strategy to long takeover target and short the acquiring company. MARB was launched on Feb 4, 2020 and is managed by First Trust.