Clough Hedged Equity ETF (NYSEARCA:CBLS) Stock Price Down 0.2% – Time to Sell?

Clough Hedged Equity ETF (NYSEARCA:CBLS) shares dropped 0.2% during mid-day trading on Thursday . The company traded as low as $27.97 and last traded at $28.04. Approximately 259 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 5,939 shares. The stock had previously closed at $28.11.

Clough Hedged Equity ETF Stock Performance

The company has a 50-day simple moving average of $28.23 and a 200 day simple moving average of $28.35. The company has a market capitalization of $41.22 million, a P/E ratio of 28.48 and a beta of 0.55.

Hedge Funds Weigh In On Clough Hedged Equity ETF

A number of institutional investors and hedge funds have recently bought and sold shares of CBLS. Raymond James Financial Inc. raised its stake in Clough Hedged Equity ETF by 0.4% during the 1st quarter. Raymond James Financial Inc. now owns 120,523 shares of the company’s stock valued at $3,150,000 after purchasing an additional 523 shares during the last quarter. Royal Bank of Canada grew its position in Clough Hedged Equity ETF by 74.1% in the 1st quarter. Royal Bank of Canada now owns 10,547 shares of the company’s stock worth $276,000 after purchasing an additional 4,488 shares during the last quarter. Ethos Financial Group LLC bought a new position in shares of Clough Hedged Equity ETF during the 1st quarter worth about $420,000. Finally, HighTower Advisors LLC bought a new position in shares of Clough Hedged Equity ETF during the 1st quarter worth about $10,311,000.

Clough Hedged Equity ETF Company Profile

The Changebridge Capital Long\u002FShort Equity ETF (CBLS) is an exchange-traded fund that mostly invests in long\u002Fshort alternatives. The fund is an alternative strategy that takes both long and short position in US-listed stocks. The actively managed fund will typically be 30%-70% net long exposure.