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

Convergence Long/Short Equity ETF (BATS:CLSE) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totaling 147,016 shares, a decrease of 78.1% from the September 15th total of 671,616 shares. Based on an average trading volume of 478,400 shares, the days-to-cover ratio is presently 0.3 days. Currently, 1.8% of the company’s shares are short sold.

Hedge Funds Weigh In On Convergence Long/Short Equity ETF

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC boosted its holdings in shares of Convergence Long/Short Equity ETF by 24.6% in 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. Farther Finance Advisors LLC grew its stake in shares of Convergence Long/Short Equity ETF by 20,428.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 58,918 shares of the company’s stock valued at $2,004,000 after buying an additional 58,631 shares during the period. Worth Asset Management LLC purchased a new stake in shares of Convergence Long/Short Equity ETF during the 2nd quarter valued at $1,260,000. Legacy Financial Advisors Inc. acquired a new stake in shares of Convergence Long/Short Equity ETF during the 2nd quarter worth $1,112,000. Finally, Cornerstone Planning Group LLC acquired a new stake in shares of Convergence Long/Short Equity ETF during the 1st quarter worth $822,000.

Convergence Long/Short Equity ETF Price Performance

Shares of CLSE stock opened at $34.43 on Tuesday. The firm’s 50-day simple moving average is $33.91 and its 200-day simple moving average is $33.01. Convergence Long/Short Equity ETF has a 1-year low of $25.35 and a 1-year high of $34.76. The firm has a market cap of $276.13 million, a P/E ratio of 18.57 and a beta of 0.61.

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.