Short Interest in Alger Mid Cap 40 ETF (NYSEARCA:FRTY) Grows By 104.3%

Alger Mid Cap 40 ETF (NYSEARCA:FRTY) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totaling 25,855 shares, a growth of 104.3% from the August 15th total of 12,658 shares. Based on an average trading volume of 11,190 shares, the short-interest ratio is currently 2.3 days. Currently, 0.4% of the company’s stock are short sold.

Alger Mid Cap 40 ETF Stock Up 0.4%

Shares of NYSEARCA FRTY traded up $0.09 during trading hours on Monday, hitting $22.32. The company had a trading volume of 15,880 shares, compared to its average volume of 29,161. The firm’s 50 day moving average is $22.80 and its 200-day moving average is $21.96. Alger Mid Cap 40 ETF has a 1-year low of $18.46 and a 1-year high of $24.82. The stock has a market capitalization of $143.96 million, a P/E ratio of 36.46 and a beta of 1.11.

Institutional Investors Weigh In On Alger Mid Cap 40 ETF

An institutional investor recently bought a new stake in Alger Mid Cap 40 ETF stock. Janney Montgomery Scott LLC acquired a new position in shares of Alger Mid Cap 40 ETF (NYSEARCA:FRTY) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,448 shares of the company’s stock, valued at approximately $204,000. Janney Montgomery Scott LLC owned 0.17% of Alger Mid Cap 40 ETF as of its most recent SEC filing.

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.