Alger Concentrated Equity ETF (NYSEARCA:CNEQ) Short Interest Update

Alger Concentrated Equity ETF (NYSEARCA:CNEQ) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 241,912 shares, a growth of 67.8% from the June 30th total of 144,173 shares. Based on an average daily volume of 156,051 shares, the short-interest ratio is currently 1.6 days. Currently, 1.1% of the shares of the stock are short sold.

Alger Concentrated Equity ETF Stock Up 1.2%

CNEQ stock opened at $38.43 on Friday. Alger Concentrated Equity ETF has a 52 week low of $29.47 and a 52 week high of $42.15. The business has a 50-day simple moving average of $39.80 and a 200 day simple moving average of $36.29. The company has a market cap of $922.32 million, a PE ratio of 35.92 and a beta of 1.71.

Hedge Funds Weigh In On Alger Concentrated Equity ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. Castle Rock Wealth Management LLC boosted its position in shares of Alger Concentrated Equity ETF by 25.8% during the 2nd quarter. Castle Rock Wealth Management LLC now owns 118,358 shares of the company’s stock worth $4,796,000 after acquiring an additional 24,281 shares in the last quarter. Western Wealth Management LLC raised its position in Alger Concentrated Equity ETF by 112.4% during the first quarter. Western Wealth Management LLC now owns 31,899 shares of the company’s stock valued at $993,000 after purchasing an additional 16,883 shares in the last quarter. Royal Bank of Canada raised its position in Alger Concentrated Equity ETF by 38.9% during the first quarter. Royal Bank of Canada now owns 15,101 shares of the company’s stock valued at $470,000 after purchasing an additional 4,230 shares in the last quarter. Cetera Investment Advisers bought a new stake in Alger Concentrated Equity ETF during the first quarter worth $550,000. Finally, R. W. Roge & Company Inc. bought a new stake in Alger Concentrated Equity ETF during the first quarter worth $351,000.

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.