Alger Mid Cap 40 ETF (NYSEARCA:FRTY) Short Interest Update

Alger Mid Cap 40 ETF (NYSEARCA:FRTY) saw a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 52,953 shares, a growth of 64.4% from the January 15th total of 32,213 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average daily volume of 48,249 shares, the days-to-cover ratio is presently 1.1 days. Based on an average daily volume of 48,249 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.8% of the shares of the company are short sold.

Alger Mid Cap 40 ETF Stock Up 1.4%

FRTY stock traded up $0.28 during mid-day trading on Friday, reaching $20.66. The company had a trading volume of 57,134 shares, compared to its average volume of 35,891. Alger Mid Cap 40 ETF has a one year low of $13.56 and a one year high of $23.36. The stock has a market capitalization of $135.32 million, a P/E ratio of 36.46 and a beta of 1.12. The stock’s 50-day simple moving average is $21.34 and its two-hundred day simple moving average is $21.30.

Alger Mid Cap 40 ETF Dividend Announcement

The company also recently disclosed an annual dividend, which was paid on Wednesday, December 31st. Investors of record on Thursday, December 18th were given a $0.041 dividend. The ex-dividend date was Thursday, December 18th. This represents a yield of 20.0%.

Institutional Trading of Alger Mid Cap 40 ETF

Several hedge funds have recently added to or reduced their stakes in FRTY. NewEdge Advisors LLC acquired a new position in shares of Alger Mid Cap 40 ETF in the second quarter worth about $850,000. Whipplewood Advisors LLC purchased a new stake in shares of Alger Mid Cap 40 ETF in the 2nd quarter valued at approximately $895,000. Finally, Flagship Harbor Advisors LLC boosted its stake in Alger Mid Cap 40 ETF by 2.5% in the 4th quarter. Flagship Harbor Advisors LLC now owns 85,356 shares of the company’s stock worth $1,797,000 after purchasing an additional 2,064 shares during the period.

About Alger Mid Cap 40 ETF

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.