Alger Mid Cap 40 ETF (NYSEARCA:FRTY) Short Interest Update

Alger Mid Cap 40 ETF (NYSEARCA:FRTY) saw a significant growth in short interest in July. As of July 31st, there was short interest totaling 29,431 shares, a growth of 62.0% from the July 15th total of 18,171 shares. Based on an average daily volume of 28,783 shares, the short-interest ratio is currently 1.0 days. Currently, 0.5% of the company’s stock are sold short.

Alger Mid Cap 40 ETF Stock Up 0.7%

Alger Mid Cap 40 ETF stock traded up $0.17 during midday trading on Monday, hitting $23.77. 12,694 shares of the stock were exchanged, compared to its average volume of 30,633. Alger Mid Cap 40 ETF has a 52-week low of $18.46 and a 52-week high of $24.82. The business’s 50-day moving average price is $23.09 and its 200-day moving average price is $21.69. The stock has a market capitalization of $153.32 million, a price-to-earnings ratio of 36.46 and a beta of 1.12.

Hedge Funds Weigh In On Alger Mid Cap 40 ETF

An institutional investor recently raised its stake in Alger Mid Cap 40 ETF stock. NewEdge Advisors LLC lifted its holdings in shares of Alger Mid Cap 40 ETF (NYSEARCA:FRTY) by 5.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,630 shares of the company’s stock after acquiring an additional 2,416 shares during the quarter. NewEdge Advisors LLC owned 0.81% of Alger Mid Cap 40 ETF worth $1,044,000 at the end of the most recent quarter.

Alger Mid Cap 40 ETF Company Profile

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.