Alger Russell Innovation ETF (NYSEARCA:INVN) Sees Significant Growth in Short Interest

Alger Russell Innovation ETF (NYSEARCA:INVN) was the recipient of a significant growth in short interest during the month of October. As of October 30th, there was short interest totaling 1,559 shares, a growth of 516.2% from the October 15th total of 253 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 4,091 shares, the days-to-cover ratio is presently 0.4 days.

Alger Russell Innovation ETF Stock Performance

Alger Russell Innovation ETF stock traded down $0.17 during trading hours on Thursday, hitting $26.98. 4,218 shares of the stock were exchanged, compared to its average volume of 3,768. The stock has a market capitalization of $10.79 million, a P/E ratio of -46.52 and a beta of 0.87. The business’s 50-day moving average is $26.42 and its two-hundred day moving average is $22.56. Alger Russell Innovation ETF has a 12 month low of $17.75 and a 12 month high of $27.77.

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.