Alger Mid Cap 40 ETF (NYSEARCA:FRTY) Sees Large Decrease in Short Interest

Alger Mid Cap 40 ETF (NYSEARCA:FRTY) saw a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 12,658 shares, a decrease of 57.0% from the July 30th total of 29,431 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily volume of 20,314 shares, the short-interest ratio is presently 0.6 days.

Hedge Funds Weigh In On Alger Mid Cap 40 ETF

An institutional investor recently raised its position in Alger Mid Cap 40 ETF stock. NewEdge Advisors LLC grew 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 Securities and Exchange Commission (SEC). The fund owned 46,630 shares of the company’s stock after purchasing an additional 2,416 shares during the quarter. 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 Trading Down 2.8%

Shares of NYSEARCA:FRTY traded down $0.66 during midday trading on Friday, hitting $22.87. 8,708 shares of the stock were exchanged, compared to its average volume of 29,570. Alger Mid Cap 40 ETF has a twelve month low of $18.46 and a twelve month high of $24.82. The company has a 50 day moving average price of $23.10 and a 200-day moving average price of $21.84. The stock has a market cap of $147.51 million, a P/E ratio of 36.46 and a beta of 1.12.

Alger Mid Cap 40 ETF Company Profile

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.