AltShares Event-Driven ETF (NYSEARCA:EVNT – Get Free Report) was the target of a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 2,219 shares, an increase of 79.4% from the May 14th total of 1,237 shares. Based on an average daily trading volume, of 3,652 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.2% of the shares of the company are short sold.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in AltShares Event-Driven ETF stock. Sonoma Allocations LLC grew its position in shares of AltShares Event-Driven ETF (NYSEARCA:EVNT – Free Report) by 22.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 425,333 shares of the company’s stock after acquiring an additional 76,878 shares during the quarter. AltShares Event-Driven ETF comprises approximately 1.7% of Sonoma Allocations LLC’s holdings, making the stock its 15th largest holding. Sonoma Allocations LLC owned 41.29% of AltShares Event-Driven ETF worth $4,996,000 at the end of the most recent quarter.
AltShares Event-Driven ETF Stock Down 0.7%
Shares of AltShares Event-Driven ETF stock traded down $0.08 during trading hours on Monday, reaching $11.95. 1,272 shares of the stock traded hands, compared to its average volume of 5,725. The company has a 50 day moving average price of $11.88 and a 200 day moving average price of $11.77. The firm has a market capitalization of $12.31 million, a price-to-earnings ratio of 18.53 and a beta of 0.32. AltShares Event-Driven ETF has a one year low of $10.35 and a one year high of $13.54.
About AltShares Event-Driven ETF
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. EVNT was launched on Dec 31, 2014 and is managed by Altshares.
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