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

Alger Mid Cap 40 ETF (NYSEARCA:FRTY) was the target of a large increase in short interest in January. As of January 30th, there was short interest totaling 52,953 shares, an increase of 64.4% from the January 15th total of 32,213 shares. Based on an average trading volume of 48,249 shares, the short-interest ratio is currently 1.1 days. Approximately 0.8% of the company’s stock are sold short. Approximately 0.8% of the company’s stock are sold short. Based on an average trading volume of 48,249 shares, the short-interest ratio is currently 1.1 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FRTY. NewEdge Advisors LLC purchased a new stake in shares of Alger Mid Cap 40 ETF during the second quarter valued at about $850,000. Whipplewood Advisors LLC purchased a new stake in Alger Mid Cap 40 ETF in the second quarter valued at approximately $895,000. Finally, Flagship Harbor Advisors LLC raised its holdings in shares of Alger Mid Cap 40 ETF by 2.5% during the fourth quarter. Flagship Harbor Advisors LLC now owns 85,356 shares of the company’s stock worth $1,797,000 after purchasing an additional 2,064 shares during the last quarter.

Alger Mid Cap 40 ETF Trading Up 1.4%

Shares of NYSEARCA:FRTY traded up $0.28 during mid-day trading on Friday, reaching $20.66. The company had a trading volume of 57,134 shares, compared to its average volume of 35,891. The firm has a market cap of $135.32 million, a price-to-earnings ratio of 36.46 and a beta of 1.12. The company’s 50-day moving average price is $21.34 and its 200-day moving average price is $21.30. Alger Mid Cap 40 ETF has a one year low of $13.56 and a one year high of $23.36.

Alger Mid Cap 40 ETF Announces Dividend

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

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.