Convergence Long/Short Equity ETF (BATS:CLSE – Get Free Report) was the recipient of a significant drop in short interest in June. As of June 30th, there was short interest totaling 173,104 shares, a drop of 40.5% from the June 15th total of 290,704 shares. Based on an average daily volume of 262,726 shares, the days-to-cover ratio is currently 0.7 days. Approximately 2.2% of the shares of the stock are sold short.
Institutional Investors Weigh In On Convergence Long/Short Equity ETF
Institutional investors and hedge funds have recently modified their holdings of the stock. Flagship Harbor Advisors LLC lifted its holdings in shares of Convergence Long/Short Equity ETF by 4.5% in the fourth quarter. Flagship Harbor Advisors LLC now owns 705,459 shares of the company’s stock worth $19,280,000 after buying an additional 30,205 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Convergence Long/Short Equity ETF by 24.6% during the first quarter. Janney Montgomery Scott LLC now owns 438,249 shares of the company’s stock valued at $12,332,000 after acquiring an additional 86,464 shares in the last quarter. Elyxium Wealth LLC increased its holdings in Convergence Long/Short Equity ETF by 5.3% in the 4th quarter. Elyxium Wealth LLC now owns 109,947 shares of the company’s stock valued at $3,005,000 after acquiring an additional 5,512 shares during the last quarter. Worth Asset Management LLC bought a new stake in Convergence Long/Short Equity ETF in the 2nd quarter valued at $1,260,000. Finally, Cornerstone Planning Group LLC bought a new stake in Convergence Long/Short Equity ETF in the 1st quarter valued at $822,000.
Convergence Long/Short Equity ETF Trading Down 0.9%
Shares of CLSE opened at $33.79 on Friday. The business’s 50 day moving average is $33.70 and its 200 day moving average is $30.46. Convergence Long/Short Equity ETF has a 12-month low of $23.19 and a 12-month high of $34.76. The company has a market capitalization of $271.00 million, a PE ratio of 18.57 and a beta of 0.61.
About Convergence Long/Short Equity ETF
The Convergence Long\u002FShort Equity ETF (CLSE) is an exchange-traded fund that mostly invests in long\u002Fshort alternatives. The fund establishes both long and short positions in US stocks. The actively managed fund intends to maintain a 50%-100% net long exposure. CLSE was launched on Dec 29, 2009 and is managed by Convergence.
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