Short Interest in AltShares Event-Driven ETF (NYSEARCA:EVNT) Drops By 48.3%

AltShares Event-Driven ETF (NYSEARCA:EVNT) saw a large decrease in short interest in July. As of July 31st, there was short interest totaling 2,748 shares, a decrease of 48.3% from the July 15th total of 5,316 shares. Based on an average trading volume of 5,148 shares, the short-interest ratio is currently 0.5 days. Currently, 0.3% of the company’s stock are sold short.

AltShares Event-Driven ETF Price Performance

NYSEARCA EVNT traded up $0.03 during trading on Friday, reaching $12.39. 1,751 shares of the company’s stock traded hands, compared to its average volume of 5,122. AltShares Event-Driven ETF has a 12-month low of $10.35 and a 12-month high of $13.54. The firm has a market cap of $13.26 million, a price-to-earnings ratio of 18.53 and a beta of 0.31. The company’s 50 day simple moving average is $12.16 and its two-hundred day simple moving average is $11.91.

Hedge Funds Weigh In On AltShares Event-Driven ETF

An institutional investor recently bought a new position in AltShares Event-Driven ETF stock. Jane Street Group LLC acquired a new position in AltShares Event-Driven ETF (NYSEARCA:EVNT) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 27,235 shares of the company’s stock, valued at approximately $295,000. Jane Street Group LLC owned approximately 5.93% of AltShares Event-Driven ETF as of its most recent SEC filing.

About AltShares Event-Driven ETF

The AltShares Event-Driven ETF (EVNT) is an exchange-traded fund that mostly invests in long\u002Fshort alternatives. The fund is an actively managed fund that provides long and short exposure to equity and debt securities of companies believed to be impacted by an announced or anticipated corporate event. EVNT was launched on Dec 31, 2014 and is managed by Altshares.