Alger Mid Cap 40 ETF (NYSEARCA:FRTY) Short Interest Up 268.7% in January

Alger Mid Cap 40 ETF (NYSEARCA:FRTY) was the target of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 32,213 shares, an increase of 268.7% from the December 31st total of 8,736 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average trading volume of 25,843 shares, the short-interest ratio is presently 1.2 days. Based on an average trading volume of 25,843 shares, the short-interest ratio is presently 1.2 days. Currently, 0.5% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Flagship Harbor Advisors LLC grew its stake in Alger Mid Cap 40 ETF by 2.5% in the 4th quarter. Flagship Harbor Advisors LLC now owns 85,356 shares of the company’s stock valued at $1,797,000 after acquiring an additional 2,064 shares during the period. Whipplewood Advisors LLC lifted its holdings in Alger Mid Cap 40 ETF by 6.8% during the third quarter. Whipplewood Advisors LLC now owns 49,758 shares of the company’s stock valued at $1,114,000 after purchasing an additional 3,162 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of Alger Mid Cap 40 ETF by 5.5% in the third quarter. NewEdge Advisors LLC now owns 46,630 shares of the company’s stock valued at $1,044,000 after purchasing an additional 2,416 shares during the period.

Alger Mid Cap 40 ETF Stock Down 2.5%

Shares of NYSEARCA:FRTY traded down $0.54 during trading on Friday, reaching $21.07. 20,589 shares of the company’s stock traded hands, compared to its average volume of 37,009. Alger Mid Cap 40 ETF has a fifty-two week low of $13.56 and a fifty-two week high of $23.36. The company has a 50-day simple moving average of $21.41 and a 200-day simple moving average of $21.20. The firm has a market cap of $138.01 million, a PE ratio of 36.46 and a beta of 1.12.

Alger Mid Cap 40 ETF Dividend Announcement

The firm also recently disclosed an annual dividend, which was paid on Wednesday, December 31st. Shareholders of record on Thursday, December 18th were issued a $0.041 dividend. This represents a yield of 20.0%. The ex-dividend date of this dividend was Thursday, December 18th.

About Alger Mid Cap 40 ETF

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.