Alger Concentrated Equity ETF $CNEQ Shares Sold by Sanchez Wealth Management Group

Sanchez Wealth Management Group trimmed its holdings in shares of Alger Concentrated Equity ETF (NYSEARCA:CNEQ) by 92.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 17,170 shares of the company’s stock after selling 208,133 shares during the quarter. Alger Concentrated Equity ETF accounts for about 2.1% of Sanchez Wealth Management Group’s portfolio, making the stock its 18th largest holding. Sanchez Wealth Management Group’s holdings in Alger Concentrated Equity ETF were worth $698,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CNEQ. Flagship Harbor Advisors LLC grew its position in Alger Concentrated Equity ETF by 1.1% in the third quarter. Flagship Harbor Advisors LLC now owns 434,004 shares of the company’s stock worth $17,634,000 after buying an additional 4,864 shares during the last quarter. KWB Wealth acquired a new stake in shares of Alger Concentrated Equity ETF during the 3rd quarter valued at $13,498,000. MGO One Seven LLC acquired a new stake in shares of Alger Concentrated Equity ETF during the 3rd quarter valued at $9,259,000. NewEdge Advisors LLC lifted its position in shares of Alger Concentrated Equity ETF by 21.5% during the 2nd quarter. NewEdge Advisors LLC now owns 170,409 shares of the company’s stock valued at $7,033,000 after acquiring an additional 30,114 shares during the last quarter. Finally, WPG Advisers LLC lifted its position in shares of Alger Concentrated Equity ETF by 6.0% during the 3rd quarter. WPG Advisers LLC now owns 162,283 shares of the company’s stock valued at $6,594,000 after acquiring an additional 9,118 shares during the last quarter.

Alger Concentrated Equity ETF Stock Down 0.5%

CNEQ opened at $37.09 on Thursday. The firm has a market cap of $7.53 billion, a PE ratio of 26.42 and a beta of 1.78. The business has a fifty day simple moving average of $39.61 and a 200-day simple moving average of $37.43. Alger Concentrated Equity ETF has a fifty-two week low of $29.47 and a fifty-two week high of $42.15.

Alger Concentrated Equity ETF Company 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.