ARB

AltShares Merger Arbitrage ETF, ticker ARB, is a fund that pools investor money and puts it into a strategy called merger arbitrage. That means buying shares of companies that have already agreed to be bought out by another company, then collecting the small price gap between today's trading price and the higher price the buyer promised to pay once the deal closes. The fund typically hedges out broad stock market swings so its returns come mainly from these deal spreads rather than from the market going up or down. It earns money for its manager through the fees investors pay to hold it.