Grove Bank & Trust Makes New $1.30 Million Investment in Alger Concentrated Equity ETF $CNEQ

Grove Bank & Trust purchased a new position in shares of Alger Concentrated Equity ETF (NYSEARCA:CNEQ) in the third quarter, according to its most recent filing with the SEC. The firm purchased 31,997 shares of the company’s stock, valued at approximately $1,300,000.

Several other hedge funds have also recently made changes to their positions in the business. IFP Advisors Inc acquired a new position in shares of Alger Concentrated Equity ETF in the 2nd quarter valued at about $78,000. Allworth Financial LP grew 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. Weaver Consulting Group bought a new stake in Alger Concentrated Equity ETF in the third quarter worth approximately $282,000. Rubicon Advisors GP bought a new stake in Alger Concentrated Equity ETF in the fourth quarter worth approximately $259,000. Finally, R. W. Roge & Company Inc. acquired a new position in Alger Concentrated Equity ETF in the first quarter valued at approximately $351,000.

Alger Concentrated Equity ETF Stock Performance

Shares of Alger Concentrated Equity ETF stock traded down $0.94 on Thursday, reaching $40.64. 150,429 shares of the company’s stock were exchanged, compared to its average volume of 186,085. The company has a market capitalization of $3.22 billion, a P/E ratio of 35.92 and a beta of 1.72. Alger Concentrated Equity ETF has a 52 week low of $29.47 and a 52 week high of $42.15. The firm’s 50-day moving average is $40.03 and its two-hundred day moving average is $38.53.

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.