332,219 Shares of Alger Concentrated Equity ETF $CNEQ Acquired by KWB Wealth

KWB Wealth bought a new position in shares of Alger Concentrated Equity ETF (NYSEARCA:CNEQ) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 332,219 shares of the company’s stock, valued at approximately $13,498,000. Alger Concentrated Equity ETF makes up about 1.2% of KWB Wealth’s portfolio, making the stock its 22nd biggest position. KWB Wealth owned 0.35% of Alger Concentrated Equity ETF at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Cora Capital Advisors LLC bought a new position in shares of Alger Concentrated Equity ETF in the 1st quarter valued at $2,804,000. Sacks & Associates LLC acquired a new stake in shares of Alger Concentrated Equity ETF during the 3rd quarter valued at $1,957,000. Sax Wealth Advisors LLC bought a new stake in Alger Concentrated Equity ETF during the 3rd quarter worth $1,786,000. Compass Financial Management LLC bought a new stake in Alger Concentrated Equity ETF during the 2nd quarter worth $1,662,000. Finally, Grove Bank & Trust bought a new stake in Alger Concentrated Equity ETF during the 3rd quarter worth $1,300,000.

Alger Concentrated Equity ETF Trading Down 2.5%

CNEQ traded down $0.99 on Friday, reaching $38.44. The stock had a trading volume of 192,108 shares, compared to its average volume of 193,820. Alger Concentrated Equity ETF has a fifty-two week low of $29.47 and a fifty-two week high of $42.15. The firm has a 50-day moving average of $40.11 and a 200-day moving average of $38.90. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 35.92 and a beta of 1.72.

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.