Short Interest in Alger Mid Cap 40 ETF (NYSEARCA:FRTY) Rises By 100.4%

Alger Mid Cap 40 ETF (NYSEARCA:FRTY) was the target of a significant increase in short interest during the month of April. As of April 30th, there was short interest totaling 7,766 shares, an increase of 100.4% from the April 15th total of 3,876 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 43,206 shares, the days-to-cover ratio is currently 0.2 days.

Alger Mid Cap 40 ETF Trading Down 3.2%

Shares of NYSEARCA:FRTY traded down $0.70 during trading on Monday, reaching $21.01. The stock had a trading volume of 16,479 shares, compared to its average volume of 37,458. The firm’s 50-day simple moving average is $20.47 and its 200 day simple moving average is $20.97. Alger Mid Cap 40 ETF has a one year low of $17.10 and a one year high of $23.36. The company has a market capitalization of $131.52 million, a P/E ratio of 36.46 and a beta of 1.11.

Hedge Funds Weigh In On Alger Mid Cap 40 ETF

Institutional investors and hedge funds have recently bought and sold shares of the company. Flagship Harbor Advisors LLC increased its position in shares of Alger Mid Cap 40 ETF by 2.5% during the fourth quarter. Flagship Harbor Advisors LLC now owns 85,356 shares of the company’s stock worth $1,797,000 after purchasing an additional 2,064 shares in the last quarter. Whipplewood Advisors LLC boosted its position in shares of Alger Mid Cap 40 ETF by 6.8% in the 3rd quarter. Whipplewood Advisors LLC now owns 49,758 shares of the company’s stock worth $1,114,000 after purchasing an additional 3,162 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Alger Mid Cap 40 ETF by 5.5% in the 3rd quarter. NewEdge Advisors LLC now owns 46,630 shares of the company’s stock worth $1,044,000 after purchasing an additional 2,416 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in Alger Mid Cap 40 ETF during the 1st quarter worth $204,000.

About Alger Mid Cap 40 ETF

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.