Short Interest in First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) Expands By 6.5%

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 29,300 shares, a growth of 6.5% from the August 31st total of 27,500 shares. Based on an average daily trading volume, of 27,100 shares, the days-to-cover ratio is presently 1.1 days.

First Trust Alternative Absolute Return Strategy ETF Trading Down 0.1 %

NASDAQ FAAR opened at $27.81 on Wednesday. First Trust Alternative Absolute Return Strategy ETF has a 12-month low of $27.10 and a 12-month high of $29.44. The firm’s 50 day moving average is $28.32 and its 200-day moving average is $28.50.

First Trust Alternative Absolute Return Strategy ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 2.89%.

Hedge Funds Weigh In On First Trust Alternative Absolute Return Strategy ETF

Several institutional investors and hedge funds have recently modified their holdings of the stock. Horizon Advisory Services Inc. acquired a new position in First Trust Alternative Absolute Return Strategy ETF during the first quarter valued at approximately $17,581,000. Jane Street Group LLC raised its stake in First Trust Alternative Absolute Return Strategy ETF by 180.0% during the first quarter. Jane Street Group LLC now owns 323,350 shares of the company’s stock worth $9,309,000 after buying an additional 207,860 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new position in shares of First Trust Alternative Absolute Return Strategy ETF during the 1st quarter valued at $1,204,000. Vima LLC acquired a new stake in shares of First Trust Alternative Absolute Return Strategy ETF in the 4th quarter valued at about $892,000. Finally, Bank of Montreal Can acquired a new stake in First Trust Alternative Absolute Return Strategy ETF in the 2nd quarter valued at $756,000.

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.