Alger Mid Cap 40 ETF (NYSEARCA:FRTY – Get Free Report) saw a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 16,240 shares, a growth of 106.8% from the May 14th total of 7,853 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily volume of 17,557 shares, the short-interest ratio is currently 0.9 days.
Hedge Funds Weigh In On Alger Mid Cap 40 ETF
Hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its holdings in Alger Mid Cap 40 ETF by 5.5% in the third quarter. NewEdge Advisors LLC now owns 46,630 shares of the company’s stock valued at $1,044,000 after acquiring an additional 2,416 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Alger Mid Cap 40 ETF in the first quarter valued at about $204,000. Flagship Harbor Advisors LLC boosted its holdings in Alger Mid Cap 40 ETF by 2.5% in the fourth quarter. Flagship Harbor Advisors LLC now owns 85,356 shares of the company’s stock valued at $1,797,000 after acquiring an additional 2,064 shares during the last quarter. Finally, Whipplewood Advisors LLC boosted its holdings in Alger Mid Cap 40 ETF by 6.8% in the third quarter. Whipplewood Advisors LLC now owns 49,758 shares of the company’s stock valued at $1,114,000 after acquiring an additional 3,162 shares during the last quarter.
Alger Mid Cap 40 ETF Price Performance
Shares of FRTY stock traded up $0.17 during trading hours on Friday, hitting $22.97. 2,534 shares of the company’s stock were exchanged, compared to its average volume of 33,830. The stock’s 50-day moving average is $21.64 and its 200-day moving average is $21.14. The stock has a market cap of $143.79 million, a price-to-earnings ratio of 36.46 and a beta of 1.13. Alger Mid Cap 40 ETF has a 52 week low of $17.88 and a 52 week high of $24.02.
Alger Mid Cap 40 ETF Company Profile
The Alger Mid Cap 40 ETF (FRTY) is an exchange-traded fund that is based on the Russell Midcap Growth index. The fund is an actively-managed, non-transparent ETF that provides exposure to US mid-cap companies with growth characteristics. The fund utilizes the Precidian non-transparent model. FRTY was launched on Feb 26, 2021 and is managed by Alger.
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