Legend Financial Advisors Inc. Decreases Stock Holdings in AltShares Merger Arbitrage ETF (NYSEARCA:ARB)

Legend Financial Advisors Inc. reduced its holdings in shares of AltShares Merger Arbitrage ETF (NYSEARCA:ARB) by 2.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 157,452 shares of the company’s stock after selling 3,691 shares during the quarter. AltShares Merger Arbitrage ETF makes up about 3.0% of Legend Financial Advisors Inc.’s holdings, making the stock its 13th largest position. Legend Financial Advisors Inc. owned about 6.03% of AltShares Merger Arbitrage ETF worth $4,365,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cantor Fitzgerald Investment Advisors L.P. raised its stake in shares of AltShares Merger Arbitrage ETF by 0.7% during the 2nd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 445,539 shares of the company’s stock worth $11,994,000 after purchasing an additional 3,154 shares during the period. New York Life Investment Management LLC lifted its position in shares of AltShares Merger Arbitrage ETF by 48.6% during the 2nd quarter. New York Life Investment Management LLC now owns 302,946 shares of the company’s stock valued at $8,155,000 after buying an additional 99,094 shares during the last quarter. Harbour Investments Inc. raised its stake in AltShares Merger Arbitrage ETF by 0.6% in the 2nd quarter. Harbour Investments Inc. now owns 77,196 shares of the company’s stock valued at $2,078,000 after acquiring an additional 492 shares during the period. Diversify Advisory Services LLC lifted its holdings in AltShares Merger Arbitrage ETF by 2.0% during the second quarter. Diversify Advisory Services LLC now owns 60,787 shares of the company’s stock valued at $1,643,000 after purchasing an additional 1,211 shares during the last quarter. Finally, PFG Advisors increased its stake in shares of AltShares Merger Arbitrage ETF by 28.8% in the second quarter. PFG Advisors now owns 29,734 shares of the company’s stock worth $800,000 after purchasing an additional 6,655 shares in the last quarter.

AltShares Merger Arbitrage ETF Stock Down 0.1 %

NYSEARCA ARB opened at $27.88 on Friday. The firm has a market cap of $72.77 million, a P/E ratio of 17.48 and a beta of 0.08. The company’s 50 day moving average is $27.70 and its 200-day moving average is $27.22. AltShares Merger Arbitrage ETF has a 12-month low of $25.81 and a 12-month high of $27.95.

About AltShares Merger Arbitrage ETF

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.