Western Wealth Management LLC Increases Stake in Alger Concentrated Equity ETF $CNEQ

Western Wealth Management LLC grew its holdings in shares of Alger Concentrated Equity ETF (NYSEARCA:CNEQ) by 112.4% during the 1st quarter, HoldingsChannel reports. The firm owned 31,899 shares of the company’s stock after buying an additional 16,883 shares during the period. Western Wealth Management LLC’s holdings in Alger Concentrated Equity ETF were worth $993,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNEQ. Orion Porfolio Solutions LLC acquired a new stake in shares of Alger Concentrated Equity ETF in the second quarter valued at about $3,947,000. Osaic Holdings Inc. boosted its position in Alger Concentrated Equity ETF by 114.5% during the second quarter. Osaic Holdings Inc. now owns 2,445 shares of the company’s stock worth $73,000 after acquiring an additional 1,305 shares during the last quarter. Raymond James Financial Inc. boosted its position in Alger Concentrated Equity ETF by 315.5% during the third quarter. Raymond James Financial Inc. now owns 153,250 shares of the company’s stock worth $5,389,000 after acquiring an additional 116,369 shares during the last quarter. Prosperity Financial Group Inc. purchased a new stake in Alger Concentrated Equity ETF during the 3rd quarter valued at about $221,000. Finally, NewEdge Advisors LLC acquired a new stake in Alger Concentrated Equity ETF in the 3rd quarter valued at about $4,908,000.

Alger Concentrated Equity ETF Price Performance

CNEQ opened at $38.43 on Monday. The company’s 50 day simple moving average is $39.80 and its two-hundred day simple moving average is $36.30. Alger Concentrated Equity ETF has a 1-year low of $29.47 and a 1-year high of $42.15. The firm has a market capitalization of $933.85 million, a price-to-earnings ratio of 35.92 and a beta of 1.71.

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.