Short Interest in Alger Russell Innovation ETF (NYSEARCA:INVN) Rises By 359.0%

Alger Russell Innovation ETF (NYSEARCA:INVN) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 4,076 shares, a growth of 359.0% from the August 15th total of 888 shares. Based on an average daily trading volume, of 5,227 shares, the days-to-cover ratio is presently 0.8 days. Currently, 1.2% of the company’s shares are sold short.

Alger Russell Innovation ETF Stock Up 0.8%

Shares of INVN traded up $0.21 during trading hours on Friday, hitting $25.82. The company had a trading volume of 1,472 shares, compared to its average volume of 4,160. The firm has a market cap of $9.04 million, a P/E ratio of -44.52 and a beta of 0.88. The stock’s 50 day moving average price is $24.84 and its 200 day moving average price is $21.70. Alger Russell Innovation ETF has a 52-week low of $17.75 and a 52-week high of $27.54.

About Alger Russell Innovation ETF

The Alger Russell Innovation ETF (INVN) is an exchange-traded fund that is based on the Alger Russell Innovation index. The fund tracks an equal-weighted index of 50 US stocks selected from the Russell 1000 through a fundamental approach. The fund seeks to identify companies at the forefront of innovation. INVN was launched on Jan 6, 2025 and is issued by Alger.