Short Interest in Alger Mid Cap 40 ETF (NYSEARCA:FRTY) Grows By 104.3%

Alger Mid Cap 40 ETF (NYSEARCA:FRTY) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 25,855 shares, a growth of 104.3% from the August 15th total of 12,658 shares. Based on an average daily volume of 11,190 shares, the days-to-cover ratio is currently 2.3 days. Approximately 0.4% of the shares of the company are sold short.

Hedge Funds Weigh In On Alger Mid Cap 40 ETF

A hedge fund recently bought a new stake in Alger Mid Cap 40 ETF stock. Janney Montgomery Scott LLC bought a new position in Alger Mid Cap 40 ETF (NYSEARCA:FRTY) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,448 shares of the company’s stock, valued at approximately $204,000. Janney Montgomery Scott LLC owned about 0.17% of Alger Mid Cap 40 ETF at the end of the most recent quarter.

Alger Mid Cap 40 ETF Trading Up 0.4%

NYSEARCA FRTY traded up $0.09 during midday trading on Monday, hitting $22.32. The company had a trading volume of 15,880 shares, compared to its average volume of 29,161. 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 market capitalization of $143.96 million, a PE ratio of 36.46 and a beta of 1.11. The firm has a 50-day moving average price of $22.80 and a 200-day moving average price of $21.96.

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.