Apollon Wealth Management LLC Invests $549,000 in AltShares Merger Arbitrage ETF $ARB

Apollon Wealth Management LLC acquired a new stake in AltShares Merger Arbitrage ETF (NYSEARCA:ARB) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,711 shares of the company’s stock, valued at approximately $549,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ARB. Assetmark Inc. lifted its position in AltShares Merger Arbitrage ETF by 1,131.1% in the fourth quarter. Assetmark Inc. now owns 267,701 shares of the company’s stock valued at $7,782,000 after buying an additional 245,956 shares during the last quarter. Sonoma Allocations LLC increased its position in shares of AltShares Merger Arbitrage ETF by 88.4% during the fourth quarter. Sonoma Allocations LLC now owns 53,294 shares of the company’s stock valued at $1,548,000 after acquiring an additional 25,010 shares during the last quarter. PFG Advisors increased its position in shares of AltShares Merger Arbitrage ETF by 36.8% during the fourth 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. HighTower Advisors LLC raised its stake in shares of AltShares Merger Arbitrage ETF by 9.0% in the 4th quarter. HighTower Advisors LLC now owns 130,375 shares of the company’s stock valued at $3,790,000 after acquiring an additional 10,798 shares during the period. Finally, New York Life Investment Management LLC lifted its holdings in shares of AltShares Merger Arbitrage ETF by 2.8% in the 4th quarter. New York Life Investment Management LLC now owns 371,772 shares of the company’s stock worth $10,807,000 after acquiring an additional 10,118 shares during the last quarter. Institutional investors and hedge funds own 94.63% of the company’s stock.

AltShares Merger Arbitrage ETF Stock Performance

NYSEARCA:ARB opened at $29.34 on Friday. The stock has a market capitalization of $103.28 million, a P/E ratio of 15.05 and a beta of 0.05. The company has a 50 day moving average price of $29.55 and a 200 day moving average price of $29.31. AltShares Merger Arbitrage ETF has a fifty-two week low of $28.50 and a fifty-two week high of $30.97.

AltShares Merger Arbitrage ETF 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.