Alger Mid Cap 40 ETF (NYSEARCA:FRTY) Short Interest Up 62.0% in July

Alger Mid Cap 40 ETF (NYSEARCA:FRTY) was the target of a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 29,431 shares, a growth of 62.0% from the July 15th total of 18,171 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average daily volume of 28,783 shares, the short-interest ratio is currently 1.0 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Alger Mid Cap 40 ETF stock. NewEdge Advisors LLC acquired a new position in Alger Mid Cap 40 ETF (NYSEARCA:FRTY) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 44,214 shares of the company’s stock, valued at approximately $850,000. NewEdge Advisors LLC owned about 0.83% of Alger Mid Cap 40 ETF at the end of the most recent quarter.

Alger Mid Cap 40 ETF Price Performance

Shares of NYSEARCA FRTY traded down $0.59 during trading hours on Tuesday, hitting $23.18. 4,553 shares of the company’s stock were exchanged, compared to its average volume of 30,467. The company’s 50-day moving average price is $23.11 and its 200-day moving average price is $21.70. Alger Mid Cap 40 ETF has a 1-year low of $18.46 and a 1-year high of $24.82. The stock has a market capitalization of $149.51 million, a price-to-earnings ratio of 36.46 and a beta of 1.12.

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.