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

Convergence Long/Short Equity ETF (BATS:CLSE) saw a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 420,551 shares, an increase of 186.1% from the September 30th total of 147,016 shares. Based on an average daily trading volume, of 399,770 shares, the days-to-cover ratio is presently 1.1 days. Approximately 5.2% of the company’s stock are short sold.

Convergence Long/Short Equity ETF Stock Performance

Shares of BATS CLSE opened at $32.77 on Friday. Convergence Long/Short Equity ETF has a fifty-two week low of $25.85 and a fifty-two week high of $34.76. The company has a market cap of $262.82 million, a PE ratio of 18.57 and a beta of 0.61. The business has a 50-day simple moving average of $33.90 and a two-hundred day simple moving average of $31.88.

Hedge Funds Weigh In On Convergence Long/Short Equity ETF

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC increased its stake in Convergence Long/Short Equity ETF by 24.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 438,249 shares of the company’s stock valued at $12,332,000 after purchasing an additional 86,464 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Convergence Long/Short Equity ETF by 20,428.9% in the third quarter. Farther Finance Advisors LLC now owns 58,918 shares of the company’s stock worth $2,004,000 after buying an additional 58,631 shares during the last quarter. Worth Asset Management LLC purchased a new position in shares of Convergence Long/Short Equity ETF in the second quarter worth $1,260,000. Legacy Financial Advisors Inc. purchased a new position in shares of Convergence Long/Short Equity ETF in the second quarter worth $1,112,000. Finally, Cornerstone Planning Group LLC acquired a new stake in shares of Convergence Long/Short Equity ETF during the first quarter worth $822,000.

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.