Mutual Advisors LLC Buys New Position in Alger Concentrated Equity ETF $CNEQ

Mutual Advisors LLC bought a new position in shares of Alger Concentrated Equity ETF (NYSEARCA:CNEQ) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 16,779 shares of the company’s stock, valued at approximately $580,000.

Several other institutional investors have also recently added to or reduced their stakes in CNEQ. Orion Porfolio Solutions LLC bought a new position in shares of Alger Concentrated Equity ETF during the 2nd quarter worth approximately $3,947,000. Atria Investments Inc acquired a new position in shares of Alger Concentrated Equity ETF during the 2nd quarter valued at $3,355,000. Truist Financial Corp boosted its stake in Alger Concentrated Equity ETF by 360.0% during the third quarter. Truist Financial Corp now owns 133,862 shares of the company’s stock worth $4,707,000 after acquiring an additional 104,760 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Alger Concentrated Equity ETF by 81.2% during the third quarter. Commonwealth Equity Services LLC now owns 165,527 shares of the company’s stock worth $5,821,000 after acquiring an additional 74,196 shares in the last quarter. Finally, American Alpha Advisors LLC acquired a new stake in Alger Concentrated Equity ETF in the third quarter worth $1,414,000.

Alger Concentrated Equity ETF Trading Up 3.6%

Shares of NYSEARCA CNEQ opened at $33.09 on Friday. The firm’s 50-day moving average price is $34.57 and its 200-day moving average price is $33.95. Alger Concentrated Equity ETF has a 1-year low of $19.33 and a 1-year high of $36.98. The firm has a market capitalization of $238.25 million, a P/E ratio of 35.92 and a beta of 1.76.

Alger Concentrated Equity ETF Announces Dividend

The company also recently declared an annual dividend, which was paid on Wednesday, December 31st. Shareholders of record on Thursday, December 18th were issued a $0.18 dividend. The ex-dividend date was Thursday, December 18th. This represents a yield of 53.0%.

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.