Alger Mid Cap 40 ETF (NYSEARCA:FRTY) Sees Significant Decrease in Short Interest

Alger Mid Cap 40 ETF (NYSEARCA:FRTY) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totaling 2,028 shares, a decrease of 92.3% from the March 15th total of 26,199 shares. Based on an average daily trading volume, of 73,296 shares, the short-interest ratio is presently 0.0 days. Currently, 0.0% of the shares of the company are sold short.

Alger Mid Cap 40 ETF Stock Performance

NYSEARCA FRTY traded down $0.11 during mid-day trading on Friday, reaching $20.15. 7,386 shares of the stock were exchanged, compared to its average volume of 38,259. The business’s 50 day moving average is $20.19 and its 200-day moving average is $21.16. Alger Mid Cap 40 ETF has a 1 year low of $14.51 and a 1 year high of $23.36. The company has a market capitalization of $121.91 million, a P/E ratio of 36.46 and a beta of 1.13.

Hedge Funds Weigh In On Alger Mid Cap 40 ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC purchased a new position in shares of Alger Mid Cap 40 ETF in the second quarter worth about $850,000. Whipplewood Advisors LLC lifted its stake in shares of Alger Mid Cap 40 ETF by 6.8% in the third quarter. Whipplewood Advisors LLC now owns 49,758 shares of the company’s stock worth $1,114,000 after buying an additional 3,162 shares in the last quarter. Finally, Flagship Harbor Advisors LLC lifted its stake in shares of Alger Mid Cap 40 ETF by 2.5% in the fourth quarter. Flagship Harbor Advisors LLC now owns 85,356 shares of the company’s stock worth $1,797,000 after buying an additional 2,064 shares in the last 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.