Diversify Wealth Management LLC Invests $3.77 Million in AltShares Merger Arbitrage ETF $ARB

Diversify Wealth Management LLC purchased a new stake in shares of AltShares Merger Arbitrage ETF (NYSEARCA:ARB) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 127,859 shares of the company’s stock, valued at approximately $3,773,000. Diversify Wealth Management LLC owned about 3.78% of AltShares Merger Arbitrage ETF at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ARB. Sonoma Allocations LLC increased its stake in AltShares Merger Arbitrage ETF by 88.4% in the 4th quarter. Sonoma Allocations LLC now owns 53,294 shares of the company’s stock worth $1,548,000 after acquiring an additional 25,010 shares during the last quarter. Assetmark Inc. boosted its position in shares of AltShares Merger Arbitrage ETF by 1,131.1% during the 4th quarter. Assetmark Inc. now owns 267,701 shares of the company’s stock valued at $7,782,000 after acquiring an additional 245,956 shares during the last quarter. PFG Advisors boosted its position in shares of AltShares Merger Arbitrage ETF by 36.8% during the 4th quarter. PFG Advisors now owns 113,051 shares of the company’s stock valued at $3,286,000 after acquiring an additional 30,383 shares during the last quarter. Apollon Wealth Management LLC purchased a new position in shares of AltShares Merger Arbitrage ETF in the first quarter valued at $549,000. Finally, LPL Financial LLC grew its holdings in shares of AltShares Merger Arbitrage ETF by 2.0% in the fourth quarter. LPL Financial LLC now owns 19,704 shares of the company’s stock valued at $573,000 after purchasing an additional 377 shares in the last quarter. 94.63% of the stock is owned by institutional investors.

AltShares Merger Arbitrage ETF Stock Performance

Shares of ARB opened at $29.71 on Monday. The company’s fifty day moving average is $29.57 and its 200 day moving average is $29.33. AltShares Merger Arbitrage ETF has a fifty-two week low of $28.30 and a fifty-two week high of $30.97. The stock has a market capitalization of $104.58 million, a PE ratio of 15.24 and a beta of 0.05.

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.