Alger Concentrated Equity ETF (NYSEARCA:CNEQ) Shares Shorted: Short Interest Up 134.9% in October

Alger Concentrated Equity ETF (NYSEARCA:CNEQ) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 311,511 shares, a growth of 134.9% from the September 30th total of 132,591 shares. Based on an average daily trading volume, of 324,969 shares, the short-interest ratio is currently 1.0 days. Approximately 0.2% of the shares of the company are sold short.

Hedge Funds Weigh In On Alger Concentrated Equity ETF

Several institutional investors have recently modified their holdings of CNEQ. MGO One Seven LLC acquired a new position in Alger Concentrated Equity ETF during the 3rd quarter worth $9,259,000. WPG Advisers LLC grew its stake in shares of Alger Concentrated Equity ETF by 6.0% in the third quarter. WPG Advisers LLC now owns 162,283 shares of the company’s stock worth $6,594,000 after purchasing an additional 9,118 shares in the last quarter. Flagship Harbor Advisors LLC grew its stake in shares of 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 purchasing an additional 4,864 shares in the last quarter. Wealth Management Partners LLC grew its stake in shares of Alger Concentrated Equity ETF by 11.5% in the third quarter. Wealth Management Partners LLC now owns 103,527 shares of the company’s stock worth $4,206,000 after purchasing an additional 10,675 shares in the last quarter. Finally, Wavvest Wealth LLC acquired a new position in shares of Alger Concentrated Equity ETF during the third quarter valued at $304,000.

Alger Concentrated Equity ETF Price Performance

Shares of NYSEARCA CNEQ opened at $37.14 on Friday. The firm has a market capitalization of $6.97 billion, a PE ratio of 35.92 and a beta of 1.72. Alger Concentrated Equity ETF has a 1-year low of $29.47 and a 1-year high of $42.15. The business’s fifty day moving average price is $39.76 and its two-hundred day moving average price is $37.41.

About Alger Concentrated Equity ETF

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.