Short interest in the Calamos Convertible Equity Alternative ETF (NYSEARCA: CVRT) experienced a notable decline of 31.0% during October. As of October 15, 2023, the total short interest stood at 2,900 shares, down from 4,200 shares on September 30, 2023. This reduction indicates a short-interest ratio of 0.6 days, calculated based on an average daily trading volume of 4,500 shares. Currently, approximately 1.0% of the company’s shares are sold short.
Investment activity around the Calamos ETF has also seen significant changes recently, particularly among hedge funds. Principle Wealth Partners LLC established a new stake in the ETF valued at around $2,649,000 during the first quarter. Meanwhile, Truist Financial Corp increased its stake by 63.3% in the third quarter, now holding 14,170 shares worth approximately $515,000 following the acquisition of an additional 5,494 shares.
In further moves, Jane Street Group LLC raised its stake in Calamos by 7.5% in the first quarter, bringing its total to 69,942 shares valued at $2,000,000 after purchasing an extra 4,886 shares. Additionally, Ameritas Advisory Services LLC entered the market with a new stake worth approximately $154,000 during the second quarter.
Market Performance of Calamos ETF
On Tuesday, shares of CVRT fell by 3.0%, trading at $37.61 during mid-day exchanges. A total of 7,369 shares changed hands, slightly below the average volume of 9,351 shares. The ETF’s performance over the past year shows a low of $24.79 and a high of $38.98, reflecting significant volatility.
The Calamos Convertible Equity Alternative ETF primarily invests in a diverse range of US convertible securities, focusing on those with high equity sensitivity. The fund aims to achieve total return through capital appreciation and current income, actively managed to navigate the complexities of the fixed income market.
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