Flagship Harbor Advisors LLC Invests $12.81 Million in Alger Concentrated Equity ETF $CNEQ

Flagship Harbor Advisors LLC bought a new position in shares of Alger Concentrated Equity ETF (NYSEARCA:CNEQ) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 364,197 shares of the company’s stock, valued at approximately $12,807,000. Flagship Harbor Advisors LLC owned 7.23% of Alger Concentrated Equity ETF at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CNEQ. Envestnet Asset Management Inc. increased its stake in shares of Alger Concentrated Equity ETF by 132.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 61,595 shares of the company’s stock valued at $2,166,000 after acquiring an additional 35,061 shares in the last quarter. Mutual Advisors LLC bought a new stake in Alger Concentrated Equity ETF in the third quarter valued at $580,000. Truist Financial Corp raised its holdings in shares of Alger Concentrated Equity ETF by 360.0% during the third quarter. Truist Financial Corp now owns 133,862 shares of the company’s stock valued at $4,707,000 after purchasing an additional 104,760 shares during the period. American Alpha Advisors LLC acquired a new position in shares of Alger Concentrated Equity ETF during the third quarter valued at about $1,414,000. Finally, GWN Securities Inc. bought a new position in shares of Alger Concentrated Equity ETF during the 3rd quarter worth about $753,000.

Alger Concentrated Equity ETF Price Performance

Shares of CNEQ opened at $32.36 on Thursday. Alger Concentrated Equity ETF has a one year low of $19.33 and a one year high of $36.98. The company has a market cap of $232.99 million, a PE ratio of 35.92 and a beta of 1.76. The stock has a 50-day moving average of $34.66 and a 200-day moving average of $33.95.

Alger Concentrated Equity ETF Announces Dividend

The company also recently announced an annual dividend, which was paid on Wednesday, December 31st. Stockholders of record on Thursday, December 18th were given a dividend of $0.18 per share. This represents a dividend yield of 53.0%. The ex-dividend date of this dividend was Thursday, December 18th.

Alger Concentrated Equity ETF Company Profile

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.