Short Interest in Convergence Long/Short Equity ETF (BATS:CLSE) Expands By 188.3%

Convergence Long/Short Equity ETF (BATS:CLSE) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 290,704 shares, a growth of 188.3% from the May 31st total of 100,824 shares. Currently, 3.6% of the company’s shares are short sold. Based on an average daily volume of 313,878 shares, the short-interest ratio is presently 0.9 days.

Convergence Long/Short Equity ETF Stock Down 1.3%

Shares of BATS CLSE opened at $33.86 on Friday. Convergence Long/Short Equity ETF has a 12 month low of $23.15 and a 12 month high of $34.76. The company has a market cap of $271.56 million, a price-to-earnings ratio of 18.57 and a beta of 0.61. The business has a fifty day simple moving average of $32.95 and a 200-day simple moving average of $29.81.

Institutional Trading of Convergence Long/Short Equity ETF

A number of hedge funds have recently bought and sold shares of CLSE. Advisors Preferred LLC increased its position in shares of Convergence Long/Short Equity ETF by 663.8% in the first quarter. Advisors Preferred LLC now owns 1,581 shares of the company’s stock worth $44,000 after acquiring an additional 1,374 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of 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 valued at $324,000 after acquiring an additional 2,804 shares in the last quarter. Cornerstone Planning Group LLC acquired a new position in Convergence Long/Short Equity ETF in the 1st quarter worth approximately $822,000. Elyxium Wealth LLC boosted its stake 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 worth $3,005,000 after purchasing an additional 5,512 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in Convergence Long/Short Equity ETF by 338.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 351,785 shares of the company’s stock worth $9,614,000 after purchasing an additional 271,528 shares in the last quarter.

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.