Convergence Long/Short Equity ETF
CLSE
Chicago Board Options Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 3801 PGA Blvd, Suite 1001 Palm Beach Gardens FL United States of America 33410
- IPO Date
- Feb 22, 2022
- CIK
- 0001141819
- Website
- investcip.com
- Similar Companies
- Business
- Convergence Long/Short Equity ETF (CLSE) is an actively managed exchange-traded fund that employs a long/short equity strategy focused on U.S. stocks across diversified sectors, seeking long-term capital growth while minimizing volatility through a proprietary quantamental investment process. The fund takes long positions in fundamentally strong equities identified via dynamic quantitative models combining fundamental analysis and advanced data tools; shorts positions in broken or declining business models with rigorous risk controls, including position sizing reductions, preference for low borrowing costs, and avoidance of high short-float names; and maintains a net long exposure typically between 50% and 100%, with current long exposure around 116% and short exposure around 51%. It benchmarks performance against the Russell 3000 Total Return Index, holds approximately 332 positions including top longs such as NVIDIA Corp. (NVDA), Broadcom Inc. (AVGO), and Alphabet Inc. (GOOGL), and allocates significant weight to broker deposits for short positions. CLSE trades on the Cboe BZX exchange with a total expense ratio of 1.44%, including 0.95% management fees and 0.49% for margin interest and short sale fees; pays annual dividends, with the latest ex-dividend date December 16, 2024, at $0.21204 per share; and manages approximately $222 million in assets. Originally launched as a mutual fund on December 29, 2009, by Convergence Investment Partners, LLC, under the Trust for Professional Managers, CLSE converted to an ETF structure and listed on February 22, 2022, at a NAV of $15.4742. The fund operates primarily in the U.S. equity markets, targeting growth, value, and momentum stocks within the Russell 3000 market capitalization range for institutional and retail investors seeking alpha generation and risk reduction. Headquartered with Convergence Investment Partners in a U.S.-based operation, no major recent partnerships, acquisitions, funding rounds, new product launches, or strategic shifts beyond ongoing portfolio management and performance enhancements have been reported in the last 1-2 years.