KWB Wealth Buys New Stake in Alger Concentrated Equity ETF $CNEQ

KWB Wealth bought a new position in shares of Alger Concentrated Equity ETF (NYSEARCA:CNEQ) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 332,219 shares of the company’s stock, valued at approximately $13,498,000. Alger Concentrated Equity ETF comprises about 1.2% of KWB Wealth’s portfolio, making the stock its 22nd biggest holding.

A number of other institutional investors have also recently added to or reduced their stakes in CNEQ. Wealth Management Partners LLC bought a new position in shares of Alger Concentrated Equity ETF during the first quarter valued at $540,000. NewEdge Advisors LLC grew its stake in shares of Alger Concentrated Equity ETF by 21.5% in the second quarter. NewEdge Advisors LLC now owns 170,409 shares of the company’s stock worth $7,033,000 after purchasing an additional 30,114 shares during the last quarter. Cora Capital Advisors LLC bought a new stake in shares of Alger Concentrated Equity ETF in the first quarter worth $2,804,000. Citadel Advisors LLC bought a new stake in shares of Alger Concentrated Equity ETF in the second quarter worth $642,000. Finally, Compass Financial Management LLC acquired a new stake in Alger Concentrated Equity ETF in the second quarter valued at $1,662,000.

Alger Concentrated Equity ETF Trading Down 2.5%

NYSEARCA:CNEQ traded down $0.99 during trading hours on Friday, hitting $38.44. 192,108 shares of the company were exchanged, compared to its average volume of 193,820. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 35.92 and a beta of 1.72. Alger Concentrated Equity ETF has a one year low of $29.47 and a one year high of $42.15. The company has a fifty day simple moving average of $40.11 and a 200 day simple moving average of $38.90.

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.