GeoWealth Management LLC Invests $500,000 in First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR)

GeoWealth Management LLC bought a new stake in First Trust Alternative Absolute Return Strategy ETF (NASDAQ:FAAR) in the second quarter, Holdings Channel reports. The institutional investor bought 17,758 shares of the company’s stock, valued at approximately $500,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FAAR. Sunbelt Securities Inc. acquired a new stake in First Trust Alternative Absolute Return Strategy ETF during the first quarter valued at approximately $34,000. Tucker Asset Management LLC acquired a new stake in First Trust Alternative Absolute Return Strategy ETF in the 1st quarter valued at $38,000. UBS Group AG bought a new stake in First Trust Alternative Absolute Return Strategy ETF in the first quarter valued at $43,000. Ameritas Advisory Services LLC bought a new stake in First Trust Alternative Absolute Return Strategy ETF in the first quarter valued at $97,000. Finally, Simplicity Solutions LLC acquired a new position in First Trust Alternative Absolute Return Strategy ETF during the first quarter worth $200,000.

First Trust Alternative Absolute Return Strategy ETF Stock Performance

Shares of NASDAQ:FAAR opened at $28.29 on Tuesday. First Trust Alternative Absolute Return Strategy ETF has a 52 week low of $25.85 and a 52 week high of $31.54. The company’s fifty day moving average is $28.33 and its 200-day moving average is $28.58.

First Trust Alternative Absolute Return Strategy ETF Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 25th were paid a $0.2297 dividend. The ex-dividend date of this dividend was Friday, September 22nd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.25%.

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.