Alger Concentrated Equity ETF $CNEQ Shares Purchased by Western Wealth Management LLC

Western Wealth Management LLC increased its stake in Alger Concentrated Equity ETF (NYSEARCA:CNEQ) by 112.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,899 shares of the company’s stock after acquiring an additional 16,883 shares during the quarter. Western Wealth Management LLC owned approximately 0.23% of Alger Concentrated Equity ETF worth $993,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Management Partners LLC acquired a new stake in shares of Alger Concentrated Equity ETF in the first quarter valued at about $540,000. Flagship Harbor Advisors LLC raised its position in shares of Alger Concentrated Equity ETF by 6.3% during the 4th quarter. Flagship Harbor Advisors LLC now owns 387,071 shares of the company’s stock worth $13,308,000 after purchasing an additional 22,874 shares during the last quarter. Cora Capital Advisors LLC acquired a new position in shares of Alger Concentrated Equity ETF during the 1st quarter worth about $2,804,000. Sanchez Wealth Management Group purchased a new position in Alger Concentrated Equity ETF in the 4th quarter valued at about $7,399,000. Finally, Janney Montgomery Scott LLC lifted its stake in Alger Concentrated Equity ETF by 25.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 70,439 shares of the company’s stock valued at $2,192,000 after buying an additional 14,225 shares in the last quarter.

Alger Concentrated Equity ETF Stock Performance

CNEQ stock opened at $38.43 on Monday. Alger Concentrated Equity ETF has a 12-month low of $29.47 and a 12-month high of $42.15. The stock has a market cap of $933.85 million, a price-to-earnings ratio of 35.92 and a beta of 1.71. The business’s 50-day moving average is $39.80 and its 200 day moving average is $36.30.

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.