AltShares Event-Driven ETF (NYSEARCA:EVNT) Sees Significant Growth in Short Interest

AltShares Event-Driven ETF (NYSEARCA:EVNT) was the target of a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 6,360 shares, a growth of 131.4% from the July 30th total of 2,748 shares. Based on an average daily volume of 2,056 shares, the short-interest ratio is currently 3.1 days. Approximately 0.6% of the shares of the company are sold short.

AltShares Event-Driven ETF Price Performance

Shares of NYSEARCA EVNT remained flat at $12.28 during trading on Friday. The stock had a trading volume of 2,179 shares, compared to its average volume of 4,884. The company has a 50 day simple moving average of $12.23 and a 200 day simple moving average of $11.96. AltShares Event-Driven ETF has a 1 year low of $10.35 and a 1 year high of $13.00. The company has a market capitalization of $13.14 million, a price-to-earnings ratio of 18.53 and a beta of 0.31.

Hedge Funds Weigh In On AltShares Event-Driven ETF

A hedge fund recently bought a new stake in AltShares Event-Driven ETF stock. Jane Street Group LLC purchased a new position in AltShares Event-Driven ETF (NYSEARCA:EVNT) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,235 shares of the company’s stock, valued at approximately $295,000. Jane Street Group LLC owned 5.93% of AltShares Event-Driven ETF at the end of the most recent reporting period.

About AltShares Event-Driven ETF

The AltShares Event-Driven ETF (EVNT) is an exchange-traded fund that mostly invests in long\u002Fshort alternatives. The fund is an actively managed fund that provides long and short exposure to equity and debt securities of companies believed to be impacted by an announced or anticipated corporate event. EVNT was launched on Dec 31, 2014 and is managed by Altshares.