Alger Mid Cap 40 ETF (NYSEARCA:FRTY) Short Interest Up 106.8% in May

Alger Mid Cap 40 ETF (NYSEARCA:FRTY) saw a large growth in short interest in May. As of May 29th, there was short interest totaling 16,240 shares, a growth of 106.8% from the May 14th total of 7,853 shares. Based on an average daily volume of 17,557 shares, the short-interest ratio is presently 0.9 days. Currently, 0.3% of the shares of the stock are sold short.

Alger Mid Cap 40 ETF Stock Performance

Shares of NYSEARCA:FRTY traded up $0.63 on Monday, hitting $23.60. The stock had a trading volume of 5,278 shares, compared to its average volume of 33,577. Alger Mid Cap 40 ETF has a twelve month low of $18.08 and a twelve month high of $24.02. The firm’s 50 day moving average price is $21.64 and its 200-day moving average price is $21.15. The company has a market capitalization of $147.74 million, a price-to-earnings ratio of 36.46 and a beta of 1.13.

Institutional Investors Weigh In On Alger Mid Cap 40 ETF

Several institutional investors and hedge funds have recently made changes to their positions in FRTY. NewEdge Advisors LLC acquired a new stake in shares of Alger Mid Cap 40 ETF in the 2nd quarter valued at $850,000. Janney Montgomery Scott LLC acquired a new stake in shares of Alger Mid Cap 40 ETF in the 1st quarter valued at $204,000. Whipplewood Advisors LLC boosted its stake in shares of Alger Mid Cap 40 ETF by 6.8% in the 3rd quarter. Whipplewood Advisors LLC now owns 49,758 shares of the company’s stock valued at $1,114,000 after purchasing an additional 3,162 shares in the last quarter. Finally, Flagship Harbor Advisors LLC boosted its stake in shares of 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 valued at $1,797,000 after purchasing an additional 2,064 shares in the last quarter.

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.