Alger Concentrated Equity ETF $CNEQ Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC lessened its stake in Alger Concentrated Equity ETF (NYSEARCA:CNEQ) by 12.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 140,295 shares of the company’s stock after selling 19,943 shares during the period. NewEdge Advisors LLC’s holdings in Alger Concentrated Equity ETF were worth $4,366,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wealth Management Partners LLC acquired a new position in Alger Concentrated Equity ETF during the 1st quarter worth $540,000. Cora Capital Advisors LLC acquired a new stake in shares of Alger Concentrated Equity ETF in the 1st quarter valued at about $2,804,000. Sanchez Wealth Management Group acquired a new stake in shares of Alger Concentrated Equity ETF in the 4th quarter valued at about $7,399,000. Janney Montgomery Scott LLC lifted its position in shares of Alger Concentrated Equity ETF by 25.3% during the first quarter. Janney Montgomery Scott LLC now owns 70,439 shares of the company’s stock worth $2,192,000 after purchasing an additional 14,225 shares during the last quarter. Finally, Stonebridge Financial Group LLC MO acquired a new position in Alger Concentrated Equity ETF in the first quarter worth about $396,000.

Alger Concentrated Equity ETF Stock Up 0.2%

Shares of Alger Concentrated Equity ETF stock opened at $39.74 on Wednesday. The firm has a market cap of $995.88 million, a P/E ratio of 35.92 and a beta of 1.75. Alger Concentrated Equity ETF has a fifty-two week low of $29.47 and a fifty-two week high of $42.15. The business has a 50-day moving average price of $39.64 and a 200 day moving average price of $36.55.

Alger Concentrated Equity ETF 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.