Alger Concentrated Equity ETF (NYSEARCA:CNEQ – Get Free Report) was the target of a large decrease in short interest during the month of September. As of September 15th, there was short interest totaling 155,195 shares, a decrease of 47.0% from the August 31st total of 292,610 shares. Based on an average daily volume of 228,806 shares, the short-interest ratio is currently 0.7 days. Currently, 0.2% of the company’s shares are short sold.
Alger Concentrated Equity ETF Stock Up 0.1%
CNEQ stock traded up $0.05 during mid-day trading on Thursday, hitting $40.68. 104,524 shares of the company were exchanged, compared to its average volume of 185,661. The business has a fifty day simple moving average of $39.66 and a 200-day simple moving average of $38.22. The firm has a market capitalization of $3.15 billion, a P/E ratio of 35.92 and a beta of 1.75. Alger Concentrated Equity ETF has a 12-month low of $29.47 and a 12-month high of $42.15.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in CNEQ. IFP Advisors Inc purchased a new stake in shares of Alger Concentrated Equity ETF in the 2nd quarter valued at $78,000. Rubicon Advisors GP purchased a new stake in Alger Concentrated Equity ETF during the fourth quarter worth about $259,000. Allworth Financial LP increased its stake in Alger Concentrated Equity ETF by 269.3% during the second quarter. Allworth Financial LP now owns 6,278 shares of the company’s stock worth $259,000 after purchasing an additional 4,578 shares during the period. R. W. Roge & Company Inc. acquired a new stake in shares of Alger Concentrated Equity ETF during the first quarter worth about $351,000. Finally, Stonebridge Financial Group LLC MO acquired a new stake in shares of Alger Concentrated Equity ETF during the first quarter worth about $396,000.
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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