Convergence Long/Short Equity ETF (BATS:CLSE) Sees Significant Growth in Short Interest

Convergence Long/Short Equity ETF (BATS:CLSE) was the target of a large growth in short interest in the month of April. As of April 30th, there was short interest totaling 212,917 shares, a growth of 214.7% from the April 15th total of 67,665 shares. Approximately 2.7% of the shares of the company are sold short. Based on an average trading volume of 179,988 shares, the short-interest ratio is presently 1.2 days.

Institutional Investors Weigh In On Convergence Long/Short Equity ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Flagship Harbor Advisors LLC increased its position in shares of 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 valued at $19,280,000 after purchasing an additional 30,205 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Convergence Long/Short Equity ETF by 24.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 438,249 shares of the company’s stock valued at $12,332,000 after purchasing an additional 86,464 shares during the last quarter. Elyxium Wealth LLC increased its position in shares of Convergence Long/Short Equity ETF by 5.3% during the 4th quarter. Elyxium Wealth LLC now owns 109,947 shares of the company’s stock valued at $3,005,000 after purchasing an additional 5,512 shares during the last quarter. Cornerstone Planning Group LLC purchased a new stake in shares of Convergence Long/Short Equity ETF during the 1st quarter valued at about $822,000. Finally, Bank of New York Mellon Corp increased its position in shares of Convergence Long/Short Equity ETF by 32.2% during 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 during the last quarter.

Convergence Long/Short Equity ETF Stock Performance

CLSE opened at $32.98 on Friday. Convergence Long/Short Equity ETF has a 52-week low of $22.26 and a 52-week high of $33.52. The stock has a market capitalization of $264.50 million, a P/E ratio of 18.57 and a beta of 0.61. The company’s 50-day simple moving average is $29.85 and its two-hundred day simple moving average is $28.36.

Convergence Long/Short Equity ETF Company Profile

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.