Short Interest in Alger Mid Cap 40 ETF (NYSEARCA:FRTY) Decreases By 57.0%

Alger Mid Cap 40 ETF (NYSEARCA:FRTY) was the target of a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 12,658 shares, a decrease of 57.0% from the July 30th total of 29,431 shares. Based on an average daily volume of 20,314 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.2% of the shares of the stock are sold short.

Institutional Investors Weigh In On Alger Mid Cap 40 ETF

A hedge fund recently bought a new stake in Alger Mid Cap 40 ETF stock. NewEdge Advisors LLC acquired a new stake in Alger Mid Cap 40 ETF (NYSEARCA:FRTY) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 44,214 shares of the company’s stock, valued at approximately $850,000. NewEdge Advisors LLC owned approximately 0.83% of Alger Mid Cap 40 ETF at the end of the most recent reporting period.

Alger Mid Cap 40 ETF Stock Down 2.8%

Shares of NYSEARCA FRTY traded down $0.66 during midday trading on Friday, hitting $22.87. The company had a trading volume of 8,708 shares, compared to its average volume of 29,570. Alger Mid Cap 40 ETF has a twelve month low of $18.46 and a twelve month high of $24.82. The business has a 50-day simple moving average of $23.10 and a two-hundred day simple moving average of $21.84. The firm has a market capitalization of $147.51 million, a price-to-earnings ratio of 36.46 and a beta of 1.12.

Alger Mid Cap 40 ETF Company Profile

The Alger Mid Cap 40 ETF (FRTY) is an exchange-traded fund that is based on the Russell Midcap Growth index. The fund is an actively-managed, non-transparent ETF that provides exposure to US mid-cap companies with growth characteristics. The fund utilizes the Precidian non-transparent model. FRTY was launched on Feb 26, 2021 and is managed by Alger.