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

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its holdings in shares of Convergence Long/Short Equity ETF by 24.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 438,249 shares of the company’s stock worth $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% during the 3rd quarter. Farther Finance Advisors LLC now owns 58,918 shares of the company’s stock valued at $2,004,000 after buying an additional 58,631 shares in the last quarter. Worth Asset Management LLC purchased a new position in shares of Convergence Long/Short Equity ETF during the 2nd quarter valued at about $1,260,000. Legacy Financial Advisors Inc. purchased a new position in shares of Convergence Long/Short Equity ETF during the 2nd quarter valued at about $1,112,000. Finally, Cornerstone Planning Group LLC bought a new stake in Convergence Long/Short Equity ETF in the 1st quarter worth approximately $822,000.

Convergence Long/Short Equity ETF Stock Performance

Shares of Convergence Long/Short Equity ETF stock opened at $33.16 on Friday. Convergence Long/Short Equity ETF has a 52-week low of $25.85 and a 52-week high of $34.76. The stock’s 50-day simple moving average is $33.91 and its 200 day simple moving average is $31.86. The stock has a market capitalization of $265.94 million, a P/E 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.