Alger Concentrated Equity ETF (NYSEARCA:CNEQ) Short Interest Update

Alger Concentrated Equity ETF (NYSEARCA:CNEQ) saw a large increase in short interest in April. As of April 30th, there was short interest totaling 114,279 shares, an increase of 130.1% from the April 15th total of 49,660 shares. Based on an average daily trading volume, of 134,516 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.8% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CNEQ. LPL Financial LLC lifted its stake in Alger Concentrated Equity ETF by 132.5% in the 4th quarter. LPL Financial LLC now owns 1,075,771 shares of the company’s stock worth $36,985,000 after purchasing an additional 613,133 shares in the last quarter. Flagship Harbor Advisors LLC lifted its stake in Alger Concentrated Equity ETF by 6.3% in the 4th quarter. Flagship Harbor Advisors LLC now owns 387,071 shares of the company’s stock worth $13,308,000 after purchasing an additional 22,874 shares in the last quarter. Orion Porfolio Solutions LLC lifted its stake in Alger Concentrated Equity ETF by 105.8% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 273,436 shares of the company’s stock worth $9,615,000 after purchasing an additional 140,541 shares in the last quarter. Sanchez Wealth Management Group purchased a new stake in Alger Concentrated Equity ETF in the 4th quarter worth $7,399,000. Finally, Commonwealth Equity Services LLC lifted its stake in Alger Concentrated Equity ETF by 24.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 206,284 shares of the company’s stock worth $7,092,000 after purchasing an additional 40,757 shares in the last quarter.

Alger Concentrated Equity ETF Trading Down 1.9%

Shares of CNEQ traded down $0.77 during trading hours on Friday, reaching $39.03. 189,943 shares of the stock traded hands, compared to its average volume of 179,522. Alger Concentrated Equity ETF has a 52-week low of $26.35 and a 52-week high of $39.86. The company’s 50-day moving average price is $34.38 and its two-hundred day moving average price is $34.37. The company has a market cap of $540.57 million, a P/E ratio of 35.92 and a beta of 1.68.

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.