Alger Mid Cap 40 ETF (NYSEARCA:FRTY) Sees Large Growth in Short Interest

Alger Mid Cap 40 ETF (NYSEARCA:FRTY) saw a significant increase in short interest in August. As of August 31st, there was short interest totaling 25,855 shares, an increase of 104.3% from the August 15th total of 12,658 shares. Based on an average daily trading volume, of 11,190 shares, the short-interest ratio is currently 2.3 days. Currently, 0.4% of the shares of the stock are short sold.

Alger Mid Cap 40 ETF Price Performance

NYSEARCA:FRTY traded down $0.21 during trading hours on Tuesday, reaching $22.11. 15,204 shares of the company were exchanged, compared to its average volume of 29,081. The company has a market capitalization of $142.61 million, a P/E ratio of 36.46 and a beta of 1.11. Alger Mid Cap 40 ETF has a 1-year low of $18.46 and a 1-year high of $24.82. The business has a 50 day moving average of $22.77 and a 200 day moving average of $21.97.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Alger Mid Cap 40 ETF stock. Janney Montgomery Scott LLC acquired a new position in shares of Alger Mid Cap 40 ETF (NYSEARCA:FRTY) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,448 shares of the company’s stock, valued at approximately $204,000. Janney Montgomery Scott LLC owned 0.17% of Alger Mid Cap 40 ETF as of its most recent SEC filing.

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.