Alger Concentrated Equity ETF (NYSEARCA:CNEQ – Get Free Report) saw a large growth in short interest in the month of April. As of April 30th, there was short interest totaling 114,279 shares, a growth of 130.1% from the April 15th total of 49,660 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average daily trading volume, of 134,516 shares, the days-to-cover ratio is presently 0.8 days.
Hedge Funds Weigh In On Alger Concentrated Equity ETF
Several institutional investors have recently bought and sold shares of CNEQ. Geneos Wealth Management Inc. acquired a new stake in Alger Concentrated Equity ETF in the fourth quarter valued at $39,000. Allworth Financial LP purchased a new position in shares of Alger Concentrated Equity ETF in the 4th quarter valued at about $58,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Alger Concentrated Equity ETF by 188.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,875 shares of the company’s stock valued at $64,000 after purchasing an additional 1,225 shares in the last quarter. Osaic Holdings Inc. lifted its stake in shares of Alger Concentrated Equity ETF by 114.5% in the second quarter. Osaic Holdings Inc. now owns 2,445 shares of the company’s stock valued at $73,000 after purchasing an additional 1,305 shares during the period. Finally, Private Trust Co. NA purchased a new stake in Alger Concentrated Equity ETF during the fourth quarter worth about $138,000.
Alger Concentrated Equity ETF Stock Performance
CNEQ traded down $0.77 during trading on Friday, hitting $39.03. The stock had a trading volume of 189,943 shares, compared to its average volume of 179,522. The firm has a market capitalization of $540.57 million, a P/E ratio of 35.92 and a beta of 1.68. The company’s 50-day moving average price is $34.38 and its 200 day moving average price is $34.37. Alger Concentrated Equity ETF has a twelve month low of $26.35 and a twelve month high of $39.86.
About Alger Concentrated Equity ETF
The Alger Concentrated Equity ETF (CNEQ) is an exchange-traded fund that mostly invests in large cap equity. The fund is actively managed, targeting large-cap companies with high growth potential. The fund maintains a concentrated portfolio of no more than 30 stocks, seeking long-term captial appreciation CNEQ was launched on Apr 4, 2024 and is issued by Alger.
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