Castle Rock Wealth Management LLC Boosts Holdings in Alger Concentrated Equity ETF $CNEQ

Castle Rock Wealth Management LLC grew its holdings in Alger Concentrated Equity ETF (NYSEARCA:CNEQ) by 25.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,358 shares of the company’s stock after acquiring an additional 24,281 shares during the period. Alger Concentrated Equity ETF comprises approximately 0.9% of Castle Rock Wealth Management LLC’s portfolio, making the stock its 23rd largest position. Castle Rock Wealth Management LLC’s holdings in Alger Concentrated Equity ETF were worth $4,796,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CNEQ. LPL Financial LLC raised its stake 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 Alger Concentrated Equity ETF in the fourth quarter valued at $7,399,000. Commonwealth Equity Services LLC lifted its position in Alger Concentrated Equity ETF by 24.6% in the fourth 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 last quarter. Brookwood Investment Group LLC acquired a new position in Alger Concentrated Equity ETF in the fourth quarter valued at $6,816,000. Finally, Truist Financial Corp boosted its stake in Alger Concentrated Equity ETF by 42.6% in the fourth 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 in the last quarter.

Alger Concentrated Equity ETF Stock Performance

Shares of CNEQ stock opened at $39.39 on Friday. The stock’s 50-day moving average is $39.74 and its two-hundred day moving average is $36.43. The firm has a market cap of $987.11 million, a price-to-earnings ratio of 35.92 and a beta of 1.75. Alger Concentrated Equity ETF has a 1 year low of $29.47 and a 1 year high of $42.15.

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.