Fri Sep 20 07:14:49 UTC 2024: ## Hedge Funds Shuffle Holdings in First Trust Merger Arbitrage ETF (MARB)
**New York, NY (September 20, 2024):** Several hedge funds made notable changes to their holdings in the First Trust Merger Arbitrage ETF (MARB) during the second quarter, according to recent filings with the Securities and Exchange Commission.
Commonwealth Equity Services LLC significantly reduced its stake in MARB, selling 14,837 shares, resulting in a 29.8% decrease in its holdings. The firm now owns 34,915 shares, representing approximately 1.49% of the ETF, valued at $684,000.
Other hedge funds, however, increased their positions in MARB. BCGM Wealth Management LLC boosted its stake by 4.7%, adding 2,512 shares to its portfolio, now holding 55,667 shares worth $1,091,000.
FAS Wealth Partners Inc. and Clear Harbor Asset Management LLC also raised their stakes by 4.2% and 5.3% respectively, purchasing additional shares of MARB.
Midwest Financial Group LLC and Clarus Wealth Advisors also joined the trend of increasing their holdings, demonstrating a continued interest in the ETF.
MARB, launched on February 4, 2020, is an actively-managed global fund that utilizes a merger arbitrage strategy. This strategy involves long positions in takeover target companies and short positions in the acquiring company.
The ETF opened at $19.95 on Friday, with a 50-day moving average of $19.97 and a 200-day moving average of $19.78. MARB has a market capitalization of $46.88 million, a P/E ratio of 14.08, and a beta of 0.07. The ETF’s twelve-month low is $19.07, and its twelve-month high is $20.43.
First Piper 