Envestnet Asset Management Inc. Has $2.17 Million Stake in Alger Concentrated Equity ETF $CNEQ

Envestnet Asset Management Inc. grew its stake in shares of Alger Concentrated Equity ETF (NYSEARCA:CNEQ) by 132.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 61,595 shares of the company’s stock after purchasing an additional 35,061 shares during the period. Envestnet Asset Management Inc.’s holdings in Alger Concentrated Equity ETF were worth $2,166,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Mutual Advisors LLC purchased a new position in shares of Alger Concentrated Equity ETF during the third quarter valued at approximately $580,000. Truist Financial Corp lifted its stake in Alger Concentrated Equity ETF by 360.0% during the 3rd quarter. Truist Financial Corp now owns 133,862 shares of the company’s stock valued at $4,707,000 after acquiring an additional 104,760 shares in the last quarter. American Alpha Advisors LLC purchased a new position in Alger Concentrated Equity ETF during the 3rd quarter worth $1,414,000. GWN Securities Inc. bought a new stake in shares of Alger Concentrated Equity ETF in the 3rd quarter worth $753,000. Finally, Gladstone Institutional Advisory LLC grew its stake in shares of Alger Concentrated Equity ETF by 21.9% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 77,731 shares of the company’s stock worth $2,733,000 after acquiring an additional 13,972 shares in the last quarter.

Alger Concentrated Equity ETF Price Performance

CNEQ opened at $32.84 on Friday. The company’s 50-day moving average is $34.21 and its 200 day moving average is $34.19. Alger Concentrated Equity ETF has a fifty-two week low of $19.33 and a fifty-two week high of $36.98. The firm has a market capitalization of $236.45 million, a P/E ratio of 35.92 and a beta of 1.76.

Alger Concentrated Equity ETF Announces Dividend

The company also recently announced an annual dividend, which was paid on Wednesday, December 31st. Shareholders of record on Thursday, December 18th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, December 18th. This represents a dividend 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.