Alger Russell Innovation ETF (NYSEARCA:INVN) Sees Significant Increase in Short Interest

Alger Russell Innovation ETF (NYSEARCA:INVN) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totaling 4,076 shares, an increase of 359.0% from the August 15th total of 888 shares. Currently, 1.2% of the company’s stock are short sold. Based on an average trading volume of 5,227 shares, the days-to-cover ratio is presently 0.8 days.

Alger Russell Innovation ETF Trading Up 0.8%

Shares of INVN stock traded up $0.21 on Friday, reaching $25.82. 1,459 shares of the stock were exchanged, compared to its average volume of 4,160. The company has a market capitalization of $9.04 million, a price-to-earnings ratio of -44.52 and a beta of 0.88. The business’s 50 day moving average price is $24.77 and its 200 day moving average price is $21.67. Alger Russell Innovation ETF has a twelve month low of $17.75 and a twelve month high of $27.54.

About Alger Russell Innovation ETF

The Alger Russell Innovation ETF (INVN) is an exchange-traded fund that is based on the Alger Russell Innovation index. The fund tracks an equal-weighted index of 50 US stocks selected from the Russell 1000 through a fundamental approach. The fund seeks to identify companies at the forefront of innovation. INVN was launched on Jan 6, 2025 and is issued by Alger.