Short Interest in AltShares Event-Driven ETF (NYSEARCA:EVNT) Grows By 467.4%

AltShares Event-Driven ETF (NYSEARCA:EVNT) saw a large growth in short interest in May. As of May 15th, there was short interest totaling 1,237 shares, a growth of 467.4% from the April 30th total of 218 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 3,901 shares, the short-interest ratio is currently 0.3 days.

Institutional Investors Weigh In On AltShares Event-Driven ETF

An institutional investor recently raised its position in AltShares Event-Driven ETF stock. Sonoma Allocations LLC boosted its holdings in AltShares Event-Driven ETF (NYSEARCA:EVNT) by 22.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 425,333 shares of the company’s stock after acquiring an additional 76,878 shares during the period. AltShares Event-Driven ETF accounts for about 1.7% of Sonoma Allocations LLC’s investment portfolio, making the stock its 15th largest position. Sonoma Allocations LLC owned about 41.29% of AltShares Event-Driven ETF worth $4,996,000 as of its most recent SEC filing.

AltShares Event-Driven ETF Price Performance

Shares of NYSEARCA EVNT traded down $0.01 during trading on Friday, hitting $11.93. 2,419 shares of the company were exchanged, compared to its average volume of 5,684. The company has a market cap of $12.29 million, a price-to-earnings ratio of 18.53 and a beta of 0.32. AltShares Event-Driven ETF has a 1 year low of $10.35 and a 1 year high of $13.54. The firm’s fifty day moving average price is $11.83 and its 200 day moving average price is $11.78.

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.