Short Interest in Alger Russell Innovation ETF (NYSEARCA:INVN) Expands By 359.0%

Alger Russell Innovation ETF (NYSEARCA:INVN – Get Free Report) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 4,076 shares, an increase of 359.0% from the August 15th total of 888 shares. Approximately 1.2% of the company’s stock are sold short. Based on an average trading volume of 5,227 shares, the days-to-cover ratio is presently 0.8 days.

Alger Russell Innovation ETF Price Performance

INVN traded up $0.21 during trading hours on Friday, reaching $25.82. 1,472 shares of the stock traded hands, compared to its average volume of 4,160. The firm’s fifty day simple moving average is $24.84 and its two-hundred day simple moving average is $21.70. The company has a market cap of $9.04 million, a price-to-earnings ratio of -44.52 and a beta of 0.88. Alger Russell Innovation ETF has a fifty-two week low of $17.75 and a fifty-two week high of $27.54.

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About Alger Russell Innovation ETF

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The Alger Russell Innovation ETF (INVN) is an exchange-traded fund that is based on the Alger Russell Innovation index. The fund tracks an equal-weighted index of 50 US stocks selected from the Russell 1000 through a fundamental approach. The fund seeks to identify companies at the forefront of innovation. INVN was launched on Jan 6, 2025 and is issued by Alger.

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