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

First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 6,600 shares, an increase of 32.0% from the October 31st total of 5,000 shares. Based on an average daily volume of 35,300 shares, the days-to-cover ratio is currently 0.2 days.

First Trust Alternative Absolute Return Strategy ETF Price Performance

Shares of NASDAQ:FAAR traded down $0.09 on Friday, reaching $27.94. The company’s stock had a trading volume of 11,027 shares, compared to its average volume of 33,853. First Trust Alternative Absolute Return Strategy ETF has a 52-week low of $27.10 and a 52-week high of $29.44. The stock’s 50-day moving average is $27.84 and its two-hundred day moving average is $28.21.

First Trust Alternative Absolute Return Strategy ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 26th were paid a dividend of $0.201 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.88%.

Institutional Trading of First Trust Alternative Absolute Return Strategy ETF

Several hedge funds have recently modified their holdings of FAAR. Sanctuary Advisors LLC acquired a new position in First Trust Alternative Absolute Return Strategy ETF during the second quarter worth about $411,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of First Trust Alternative Absolute Return Strategy ETF by 3.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 13,260 shares of the company’s stock worth $377,000 after acquiring an additional 398 shares during the period. AE Wealth Management LLC increased its stake in First Trust Alternative Absolute Return Strategy ETF by 79.3% in the 2nd quarter. AE Wealth Management LLC now owns 52,547 shares of the company’s stock valued at $1,493,000 after purchasing an additional 23,241 shares in the last quarter. Horizon Advisory Services Inc. raised its holdings 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 purchasing an additional 24,889 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in First Trust Alternative Absolute Return Strategy ETF by 59.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 22,325 shares of the company’s stock worth $641,000 after purchasing an additional 8,281 shares in the last quarter.

About First Trust Alternative Absolute Return Strategy ETF

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.