Compass Financial Management LLC Buys New Stake in Alger Concentrated Equity ETF $CNEQ

Compass Financial Management LLC purchased a new position in shares of Alger Concentrated Equity ETF (NYSEARCA:CNEQ) during the second quarter, Holdings Channel.com reports. The fund purchased 41,224 shares of the company’s stock, valued at approximately $1,662,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LPL Financial LLC increased its holdings in Alger Concentrated Equity ETF by 132.5% in the fourth quarter. LPL Financial LLC now owns 1,075,771 shares of the company’s stock valued at $36,985,000 after buying an additional 613,133 shares in the last quarter. Sanchez Wealth Management Group purchased a new stake in shares of Alger Concentrated Equity ETF during the 4th quarter worth about $7,399,000. Commonwealth Equity Services LLC grew its position in shares of Alger Concentrated Equity ETF by 24.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 206,284 shares of the company’s stock valued at $7,092,000 after acquiring an additional 40,757 shares during the period. Truist Financial Corp grew its position in shares of Alger Concentrated Equity ETF by 42.6% during the 4th quarter. Truist Financial Corp now owns 190,856 shares of the company’s stock valued at $6,562,000 after acquiring an additional 56,994 shares during the period. Finally, NewEdge Advisors LLC grew its position in shares of Alger Concentrated Equity ETF by 14.8% during the 4th quarter. NewEdge Advisors LLC now owns 160,238 shares of the company’s stock valued at $5,509,000 after acquiring an additional 20,658 shares during the period.

Alger Concentrated Equity ETF Stock Up 0.9%

Shares of Alger Concentrated Equity ETF stock opened at $39.59 on Friday. The firm has a market cap of $992.13 million, a PE ratio of 35.92 and a beta of 1.75. Alger Concentrated Equity ETF has a twelve month low of $29.47 and a twelve month high of $42.15. The business has a 50-day moving average price of $39.75 and a 200 day moving average price of $36.84.

About Alger Concentrated Equity ETF

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.