Convergence Long/Short Equity ETF (BATS:CLSE) Sees Significant Increase in Short Interest

Convergence Long/Short Equity ETF (BATS:CLSE) was the recipient of a significant growth in short interest in August. As of August 14th, there was short interest totaling 385,490 shares, a growth of 336.5% from the July 30th total of 88,314 shares. Currently, 4.8% of the shares of the stock are short sold. Based on an average trading volume of 399,062 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Trading of Convergence Long/Short Equity ETF

Hedge funds have recently added to or reduced their stakes in the business. Advisors Preferred LLC boosted its holdings in Convergence Long/Short Equity ETF by 663.8% during the 1st quarter. Advisors Preferred LLC now owns 1,581 shares of the company’s stock valued at $44,000 after acquiring an additional 1,374 shares during the period. Bank of New York Mellon Corp increased its stake in Convergence Long/Short Equity ETF by 32.2% in the 1st quarter. Bank of New York Mellon Corp now owns 11,520 shares of the company’s stock worth $324,000 after purchasing an additional 2,804 shares during the period. Elyxium Wealth LLC lifted its position in Convergence Long/Short Equity ETF by 5.3% in the fourth quarter. Elyxium Wealth LLC now owns 109,947 shares of the company’s stock valued at $3,005,000 after purchasing an additional 5,512 shares during the last quarter. Cornerstone Planning Group LLC bought a new stake in Convergence Long/Short Equity ETF in the first quarter valued at approximately $822,000. Finally, Legacy Financial Advisors Inc. purchased a new stake in shares of Convergence Long/Short Equity ETF during the second quarter valued at approximately $1,112,000.

Convergence Long/Short Equity ETF Trading Up 0.3%

Shares of CLSE traded up $0.09 during mid-day trading on Thursday, reaching $33.54. The company’s stock had a trading volume of 127,496 shares, compared to its average volume of 219,335. The stock has a market cap of $268.99 million, a PE ratio of 18.57 and a beta of 0.61. Convergence Long/Short Equity ETF has a 52 week low of $24.14 and a 52 week high of $34.76. The company’s fifty day moving average price is $33.81 and its two-hundred day moving average price is $31.66.

Convergence Long/Short Equity ETF Company Profile

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.