Alger Russell Innovation ETF (NYSEARCA:INVN) Stock Short Interest Falls 82.4%

Alger Russell Innovation ETF (NYSEARCA:INVN) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totaling 253 shares, a drop of 82.4% from the September 30th total of 1,436 shares. Based on an average daily trading volume, of 1,096 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the company’s stock are short sold.

Alger Russell Innovation ETF Stock Performance

NYSEARCA:INVN traded down $0.18 during mid-day trading on Tuesday, hitting $27.41. The stock had a trading volume of 10,650 shares, compared to its average volume of 3,774. Alger Russell Innovation ETF has a twelve month low of $17.75 and a twelve month high of $27.77. The company’s 50 day simple moving average is $26.34 and its 200 day simple moving average is $22.20. The stock has a market cap of $10.96 million, a price-to-earnings ratio of -47.25 and a beta of 0.92.

Alger Russell Innovation ETF Company Profile

The Alger Russell Innovation ETF (INVN) is an exchange-traded fund that is based on the Alger Russell Innovation index. The fund tracks an equal-weighted index of 50 US stocks selected from the Russell 1000 through a fundamental approach. The fund seeks to identify companies at the forefront of innovation. INVN was launched on Jan 6, 2025 and is issued by Alger.