Alger Mid Cap 40 ETF (NYSEARCA:FRTY) Sees Significant Growth in Short Interest

Alger Mid Cap 40 ETF (NYSEARCA:FRTY) was the target of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 29,431 shares, a growth of 62.0% from the July 15th total of 18,171 shares. Based on an average daily volume of 28,783 shares, the short-interest ratio is currently 1.0 days. Currently, 0.5% of the shares of the stock are short sold.

Hedge Funds Weigh In On Alger Mid Cap 40 ETF

A hedge fund recently raised its position in Alger Mid Cap 40 ETF stock. NewEdge Advisors LLC increased its holdings in Alger Mid Cap 40 ETF (NYSEARCA:FRTY) by 5.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,630 shares of the company’s stock after purchasing an additional 2,416 shares during the period. NewEdge Advisors LLC owned approximately 0.81% of Alger Mid Cap 40 ETF worth $1,044,000 at the end of the most recent quarter.

Alger Mid Cap 40 ETF Price Performance

Shares of Alger Mid Cap 40 ETF stock traded up $0.12 during trading on Wednesday, reaching $23.30. 249 shares of the stock traded hands, compared to its average volume of 30,275. Alger Mid Cap 40 ETF has a 52-week low of $18.46 and a 52-week high of $24.82. The business has a fifty day simple moving average of $23.12 and a two-hundred day simple moving average of $21.71. The company has a market capitalization of $150.28 million, a price-to-earnings ratio of 36.46 and a beta of 1.12.

About Alger Mid Cap 40 ETF

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.