AltShares Event-Driven ETF (NYSEARCA:EVNT) Sees Significant Drop in Short Interest

AltShares Event-Driven ETF (NYSEARCA:EVNT) was the target of a significant drop in short interest in September. As of September 15th, there was short interest totaling 16,500 shares, a drop of 25.7% from the August 31st total of 22,200 shares. Based on an average trading volume of 5,600 shares, the short-interest ratio is presently 2.9 days. Based on an average trading volume of 5,600 shares, the short-interest ratio is presently 2.9 days.

AltShares Event-Driven ETF Price Performance

Shares of NYSEARCA EVNT opened at $11.85 on Tuesday. The stock’s 50-day moving average is $11.77 and its two-hundred day moving average is $11.37. AltShares Event-Driven ETF has a 1-year low of $9.78 and a 1-year high of $13.54. The company has a market cap of $8.30 million, a price-to-earnings ratio of 18.53 and a beta of 0.32.

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 bought a new stake in AltShares Event-Driven ETF (NYSEARCA:EVNT) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 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.

AltShares Event-Driven ETF Company Profile

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.