Short Interest in AltShares Event-Driven ETF (NYSEARCA:EVNT) Expands By 131.4%

AltShares Event-Driven ETF (NYSEARCA:EVNT) saw a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 6,360 shares, a growth of 131.4% from the July 30th total of 2,748 shares. Currently, 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 2,056 shares, the days-to-cover ratio is presently 3.1 days.

AltShares Event-Driven ETF Price Performance

Shares of NYSEARCA EVNT remained flat at $12.28 during midday trading on Friday. 2,179 shares of the stock were exchanged, compared to its average volume of 4,884. The business’s 50-day simple moving average is $12.23 and its 200-day simple moving average is $11.96. The company has a market cap of $13.14 million, a P/E ratio of 18.53 and a beta of 0.31. AltShares Event-Driven ETF has a 1 year low of $10.35 and a 1 year high of $13.00.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in AltShares Event-Driven ETF stock. Sonoma Allocations LLC raised its position in AltShares Event-Driven ETF (NYSEARCA:EVNT) by 129.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 348,455 shares of the company’s stock after purchasing an additional 196,657 shares during the quarter. AltShares Event-Driven ETF accounts for approximately 1.4% of Sonoma Allocations LLC’s holdings, making the stock its 18th biggest holding. Sonoma Allocations LLC owned approximately 40.05% of AltShares Event-Driven ETF worth $4,053,000 at the end of the most recent quarter.

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. EVNT was launched on Dec 31, 2014 and is managed by Altshares.