Convergence Long/Short Equity ETF (BATS:CLSE) Short Interest Up 188.3% in June

Convergence Long/Short Equity ETF (BATS:CLSE) was the recipient of a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 290,704 shares, a growth of 188.3% from the May 31st total of 100,824 shares. Currently, 3.6% of the company’s stock are short sold. Based on an average daily trading volume, of 313,878 shares, the short-interest ratio is currently 0.9 days.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CLSE. Flagship Harbor Advisors LLC boosted its stake 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 buying an additional 30,205 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Convergence Long/Short Equity ETF by 24.6% in the first quarter. Janney Montgomery Scott LLC now owns 438,249 shares of the company’s stock worth $12,332,000 after acquiring an additional 86,464 shares during the last quarter. Elyxium Wealth LLC increased its stake in shares of Convergence Long/Short Equity ETF by 5.3% in the fourth quarter. Elyxium Wealth LLC now owns 109,947 shares of the company’s stock worth $3,005,000 after acquiring 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 first quarter worth $822,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Convergence Long/Short Equity ETF by 32.2% during the first quarter. Bank of New York Mellon Corp now owns 11,520 shares of the company’s stock worth $324,000 after acquiring an additional 2,804 shares in the last quarter.

Convergence Long/Short Equity ETF Price Performance

BATS:CLSE opened at $33.86 on Friday. The stock has a market cap of $271.56 million, a PE ratio of 18.57 and a beta of 0.61. Convergence Long/Short Equity ETF has a fifty-two week low of $23.15 and a fifty-two week high of $34.76. The stock’s 50-day moving average is $32.95 and its two-hundred day moving average is $29.81.

About Convergence Long/Short Equity ETF

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.