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

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) saw a large drop in short interest in 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.

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

Several hedge funds have recently bought and sold shares of FAAR. Jane Street Group LLC lifted its stake in First Trust Alternative Absolute Return Strategy ETF by 180.0% in the 1st quarter. Jane Street Group LLC now owns 323,350 shares of the company’s stock valued at $9,309,000 after purchasing an additional 207,860 shares during the last quarter. Assetmark Inc. lifted its stake in First Trust Alternative Absolute Return Strategy ETF by 138.1% in the 3rd quarter. Assetmark Inc. now owns 115,762 shares of the company’s stock valued at $3,222,000 after purchasing an additional 67,136 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new stake in First Trust Alternative Absolute Return Strategy ETF in the 1st quarter valued at about $1,204,000. Bank of Montreal Can acquired a new stake in First Trust Alternative Absolute Return Strategy ETF in the 2nd quarter valued at about $756,000. Finally, Horizon Advisory Services Inc. lifted its stake in First Trust Alternative Absolute Return Strategy ETF by 4.1% in the 2nd quarter. Horizon Advisory Services Inc. now owns 635,544 shares of the company’s stock valued at $18,056,000 after purchasing an additional 24,889 shares during the last quarter.

First Trust Alternative Absolute Return Strategy ETF Price Performance

Shares of NASDAQ FAAR traded up $0.02 during mid-day trading on Friday, hitting $27.73. The company had a trading volume of 17,840 shares, compared to its average volume of 34,297. The firm has a 50-day simple moving average of $27.91 and a two-hundred day simple moving average of $28.25. First Trust Alternative Absolute Return Strategy ETF has a one year low of $27.10 and a one year high of $29.44.

First Trust Alternative Absolute Return Strategy ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 26th were paid a $0.201 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $0.80 annualized dividend and a yield of 2.90%.

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.