Convergence Long/Short Equity ETF (BATS:CLSE) Short Interest Down 40.5% in June

Convergence Long/Short Equity ETF (BATS:CLSE) was the recipient of a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 173,104 shares, a decline of 40.5% from the June 15th total of 290,704 shares. Based on an average daily volume of 262,726 shares, the short-interest ratio is presently 0.7 days. Approximately 2.2% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Advisors Preferred LLC raised its stake in shares of Convergence Long/Short Equity ETF by 663.8% during 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 boosted its stake 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 purchasing an additional 2,804 shares in the last quarter. Cornerstone Planning Group LLC bought a new position in shares of Convergence Long/Short Equity ETF during the 1st quarter valued at $822,000. Worth Asset Management LLC bought a new position in shares of Convergence Long/Short Equity ETF during the 2nd quarter valued at $1,260,000. Finally, Elyxium Wealth LLC raised its position 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.

Convergence Long/Short Equity ETF Trading Down 0.2%

Shares of CLSE traded down $0.08 during midday trading on Friday, reaching $33.71. The stock had a trading volume of 233,451 shares, compared to its average volume of 182,229. The company has a market capitalization of $270.35 million, a price-to-earnings ratio of 18.57 and a beta of 0.61. The company’s 50-day moving average is $33.71 and its 200 day moving average is $30.49. Convergence Long/Short Equity ETF has a 12-month low of $23.19 and a 12-month high of $34.76.

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.