Mutual Advisors LLC Invests $580,000 in Alger Concentrated Equity ETF $CNEQ

Mutual Advisors LLC purchased a new position in shares of Alger Concentrated Equity ETF (NYSEARCA:CNEQ) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 16,779 shares of the company’s stock, valued at approximately $580,000. Mutual Advisors LLC owned approximately 0.33% of Alger Concentrated Equity ETF at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CNEQ. Commonwealth Equity Services LLC lifted its stake in Alger Concentrated Equity ETF by 81.2% during the third quarter. Commonwealth Equity Services LLC now owns 165,527 shares of the company’s stock worth $5,821,000 after purchasing an additional 74,196 shares during the last quarter. Truist Financial Corp lifted its position in shares of Alger Concentrated Equity ETF by 360.0% during the 3rd quarter. Truist Financial Corp now owns 133,862 shares of the company’s stock worth $4,707,000 after buying an additional 104,760 shares during the last quarter. Orion Porfolio Solutions LLC acquired a new stake in Alger Concentrated Equity ETF in the second quarter valued at about $3,947,000. Atria Investments Inc bought a new position in Alger Concentrated Equity ETF in the second quarter valued at about $3,355,000. Finally, Castle Rock Wealth Management LLC grew its position in Alger Concentrated Equity ETF by 2.9% in the third quarter. Castle Rock Wealth Management LLC now owns 88,132 shares of the company’s stock valued at $3,134,000 after acquiring an additional 2,510 shares during the last quarter.

Alger Concentrated Equity ETF Trading Up 3.6%

CNEQ stock opened at $33.09 on Friday. The stock has a market capitalization of $238.25 million, a P/E ratio of 35.92 and a beta of 1.76. Alger Concentrated Equity ETF has a 12 month low of $19.33 and a 12 month high of $36.98. The firm has a 50-day moving average price of $34.57 and a 200-day moving average price of $33.95.

Alger Concentrated Equity ETF Dividend Announcement

The business also recently disclosed an annual dividend, which was paid on Wednesday, December 31st. Investors of record on Thursday, December 18th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, December 18th. This represents a yield of 53.0%.

Alger Concentrated Equity ETF Profile

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.