Clough Hedged Equity ETF (NYSEARCA:CBLS) Stock Falls 4% – Here’s Why

Clough Hedged Equity ETF (NYSEARCA:CBLS) shares fell 4% on Thursday. The company traded as low as $27.01 and last traded at $27.01. Approximately 150,470 shares changed hands during trading, an increase of 2,168% from the average daily volume of 6,635 shares. The stock had previously closed at $28.13.

Clough Hedged Equity ETF Price Performance

The stock has a 50-day moving average price of $30.67 and a 200-day moving average price of $31.04. The company has a market capitalization of $46.46 million, a P/E ratio of 28.48 and a beta of 0.62.

Institutional Trading of Clough Hedged Equity ETF

An institutional investor recently bought a new stake in Clough Hedged Equity ETF stock. Farther Finance Advisors LLC acquired a new stake in Clough Hedged Equity ETF (NYSEARCA:CBLS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,871 shares of the company’s stock, valued at approximately $152,000. Farther Finance Advisors LLC owned 0.27% of Clough Hedged Equity ETF as of its most recent filing with the Securities & Exchange Commission.

Clough Hedged Equity ETF Company Profile

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.