First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) Sees Large Drop in Short Interest

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 5,000 shares, a drop of 61.2% from the October 15th total of 12,900 shares. Based on an average trading volume of 36,400 shares, the short-interest ratio is presently 0.1 days.

First Trust Alternative Absolute Return Strategy ETF Trading Up 0.1 %

FAAR stock traded up $0.02 during mid-day trading on Friday, hitting $27.73. 17,840 shares of the company were exchanged, compared to its average volume of 34,297. The business has a 50 day simple moving average of $27.91 and a 200-day simple moving average of $28.25. First Trust Alternative Absolute Return Strategy ETF has a 1-year low of $27.10 and a 1-year high of $29.44.

First Trust Alternative Absolute Return Strategy ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 26th were given a dividend of $0.201 per share. The ex-dividend date was Thursday, September 26th. This represents a $0.80 annualized dividend and a yield of 2.90%.

Institutional Investors Weigh In On First Trust Alternative Absolute Return Strategy ETF

Several hedge funds have recently bought and sold shares of the stock. Horizon Advisory Services Inc. lifted its position in First Trust Alternative Absolute Return Strategy ETF by 4.1% during the second quarter. Horizon Advisory Services Inc. now owns 635,544 shares of the company’s stock worth $18,056,000 after acquiring an additional 24,889 shares during the last quarter. Jane Street Group LLC raised its position in shares of First Trust Alternative Absolute Return Strategy ETF by 180.0% in the first quarter. Jane Street Group LLC now owns 323,350 shares of the company’s stock valued at $9,309,000 after buying an additional 207,860 shares in the last quarter. Captrust Financial Advisors raised its position in shares of First Trust Alternative Absolute Return Strategy ETF by 8.1% in the third quarter. Captrust Financial Advisors now owns 145,648 shares of the company’s stock valued at $4,053,000 after buying an additional 10,941 shares in the last quarter. Assetmark Inc. raised its position in shares of First Trust Alternative Absolute Return Strategy ETF by 138.1% in the third quarter. Assetmark Inc. now owns 115,762 shares of the company’s stock valued at $3,222,000 after buying an additional 67,136 shares in the last quarter. Finally, Cetera Investment Advisers raised its position in shares of First Trust Alternative Absolute Return Strategy ETF by 3.0% in the second quarter. Cetera Investment Advisers now owns 115,615 shares of the company’s stock valued at $3,285,000 after buying an additional 3,358 shares in the last quarter.

First Trust Alternative Absolute Return Strategy ETF Company Profile

The First Trust Alternative Absolute Return Strategy ETF (FAAR) is an exchange-traded fund that is based on the db Liquid Commodity index. The fund is an actively-managed fund that, through a subsidiary, provides broad long\u002Fshort exposure to commodity futures contracts. FAAR was launched on May 18, 2016 and is managed by First Trust.