Short Interest in Alger Mid Cap 40 ETF (NYSEARCA:FRTY) Declines By 57.0%

Alger Mid Cap 40 ETF (NYSEARCA:FRTY) was the recipient of a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 12,658 shares, a drop of 57.0% from the July 30th total of 29,431 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average trading volume of 20,314 shares, the short-interest ratio is presently 0.6 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Alger Mid Cap 40 ETF stock. Janney Montgomery Scott LLC purchased a new position in Alger Mid Cap 40 ETF (NYSEARCA:FRTY) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,448 shares of the company’s stock, valued at approximately $204,000. Janney Montgomery Scott LLC owned approximately 0.17% of Alger Mid Cap 40 ETF at the end of the most recent quarter.

Alger Mid Cap 40 ETF Price Performance

NYSEARCA:FRTY opened at $22.87 on Monday. Alger Mid Cap 40 ETF has a 1-year low of $18.46 and a 1-year high of $24.82. The company has a 50 day moving average price of $23.10 and a 200-day moving average price of $21.85. The firm has a market cap of $147.51 million, a price-to-earnings ratio of 36.46 and a beta of 1.12.

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.