Clough Hedged Equity ETF (NYSEARCA:CBLS) Shares Up 0.3% – Still a Buy?

Clough Hedged Equity ETF (NYSEARCA:CBLS) shares rose 0.3% on Thursday . The stock traded as high as $30.62 and last traded at $30.62. Approximately 169 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 3,867 shares. The stock had previously closed at $30.54.

Clough Hedged Equity ETF Trading Up 0.3%

The company has a market cap of $56.34 million, a price-to-earnings ratio of 28.48 and a beta of 0.58. The business’s 50 day moving average price is $31.50 and its 200-day moving average price is $31.29.

Institutional Investors Weigh In On Clough Hedged Equity ETF

An institutional investor recently raised its stake in Clough Hedged Equity ETF stock. Royal Bank of Canada raised its position in shares of Clough Hedged Equity ETF (NYSEARCA:CBLS) by 74.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,547 shares of the company’s stock after acquiring an additional 4,488 shares during the period. Royal Bank of Canada owned approximately 0.68% of Clough Hedged Equity ETF worth $276,000 at the end of the most recent quarter.

About Clough Hedged Equity ETF

The Changebridge Capital Long\u002FShort Equity ETF (CBLS) is an exchange-traded fund that mostly invests in long\u002Fshort alternatives. The fund is an alternative strategy that takes both long and short position in US-listed stocks. The actively managed fund will typically be 30%-70% net long exposure. CBLS was launched on Nov 13, 2020 and is managed by Changebridge Capital.