Alger Mid Cap 40 ETF (NYSEARCA:FRTY) Short Interest Update

Alger Mid Cap 40 ETF (NYSEARCA:FRTY) was the target of a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 12,658 shares, a drop of 57.0% from the July 30th total of 29,431 shares. Based on an average daily volume of 20,314 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.2% of the company’s stock are sold short.

Alger Mid Cap 40 ETF Stock Performance

Shares of NYSEARCA:FRTY traded down $0.66 during trading on Friday, hitting $22.87. The company’s stock had a trading volume of 8,708 shares, compared to its average volume of 29,570. The company has a market capitalization of $147.51 million, a PE ratio of 36.46 and a beta of 1.12. The business has a 50 day moving average price of $23.10 and a two-hundred day moving average price of $21.84. Alger Mid Cap 40 ETF has a fifty-two week low of $18.46 and a fifty-two week high of $24.82.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Alger Mid Cap 40 ETF stock. Janney Montgomery Scott LLC acquired a new stake in Alger Mid Cap 40 ETF (NYSEARCA:FRTY) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,448 shares of the company’s stock, valued at approximately $204,000. Janney Montgomery Scott LLC owned approximately 0.17% of Alger Mid Cap 40 ETF at the end of the most recent quarter.

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.