Convergence Long/Short Equity ETF (BATS:CLSE) Short Interest Update

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. Based on an average daily trading volume, of 313,878 shares, the days-to-cover ratio is presently 0.9 days. Currently, 3.6% of the shares of the stock are short sold.

Hedge Funds Weigh In On Convergence Long/Short Equity ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its stake in shares of 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 buying an additional 271,528 shares during the last quarter. Flagship Harbor Advisors LLC increased its position in Convergence Long/Short Equity ETF by 4.5% during the 4th quarter. Flagship Harbor Advisors LLC now owns 705,459 shares of the company’s stock worth $19,280,000 after purchasing an additional 30,205 shares in the last quarter. Cornerstone Planning Group LLC purchased a new stake in shares of Convergence Long/Short Equity ETF during the first quarter worth about $822,000. Elyxium Wealth LLC raised its holdings 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 valued at $3,005,000 after acquiring an additional 5,512 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Convergence Long/Short Equity ETF by 32.2% in the first 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 during the last quarter.

Convergence Long/Short Equity ETF Trading Up 0.6%

CLSE stock opened at $34.06 on Tuesday. The firm has a 50 day moving average of $33.02 and a 200-day moving average of $29.87. 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 $273.16 million, a price-to-earnings 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.