AltShares Event-Driven ETF (NYSEARCA:EVNT) Short Interest Down 48.9% in June

AltShares Event-Driven ETF (NYSEARCA:EVNT) was the target of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totaling 1,133 shares, a decrease of 48.9% from the May 31st total of 2,219 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average trading volume of 6,170 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On AltShares Event-Driven ETF

A hedge fund recently raised its position in AltShares Event-Driven ETF stock. Sonoma Allocations LLC grew its stake in shares of AltShares Event-Driven ETF (NYSEARCA:EVNT) by 22.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 425,333 shares of the company’s stock after purchasing an additional 76,878 shares during the period. AltShares Event-Driven ETF makes up 1.7% of Sonoma Allocations LLC’s investment portfolio, making the stock its 15th biggest holding. Sonoma Allocations LLC owned about 41.29% of AltShares Event-Driven ETF worth $4,996,000 as of its most recent filing with the Securities and Exchange Commission.

AltShares Event-Driven ETF Price Performance

Shares of NYSEARCA:EVNT opened at $12.14 on Tuesday. AltShares Event-Driven ETF has a 1 year low of $10.35 and a 1 year high of $13.54. The business’s 50-day moving average is $11.93 and its 200-day moving average is $11.78. The company has a market capitalization of $12.50 million, a price-to-earnings ratio of 18.53 and a beta of 0.32.

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.