Short Interest in Alger Mid Cap 40 ETF (NYSEARCA:FRTY) Declines By 27.9%

Alger Mid Cap 40 ETF (NYSEARCA:FRTY) saw a significant decrease in short interest in August. As of August 31st, there was short interest totaling 32,600 shares, a decrease of 27.9% from the August 15th total of 45,200 shares. Based on an average daily volume of 21,600 shares, the short-interest ratio is presently 1.5 days. Approximately 0.6% of the shares of the stock are sold short. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily volume of 21,600 shares, the short-interest ratio is presently 1.5 days.

Alger Mid Cap 40 ETF Stock Performance

Shares of FRTY opened at $21.68 on Tuesday. The company has a market capitalization of $115.12 million, a price-to-earnings ratio of 36.46 and a beta of 0.87. The company’s 50 day simple moving average is $20.03 and its 200 day simple moving average is $18.01. Alger Mid Cap 40 ETF has a 1 year low of $13.56 and a 1 year high of $21.70.

Hedge Funds Weigh In On Alger Mid Cap 40 ETF

An institutional investor recently bought a new position in Alger Mid Cap 40 ETF stock. Whipplewood Advisors LLC purchased a new position in shares of Alger Mid Cap 40 ETF (NYSEARCA:FRTY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 46,596 shares of the company’s stock, valued at approximately $895,000. Whipplewood Advisors LLC owned about 0.89% of Alger Mid Cap 40 ETF as of its most recent filing with the Securities and Exchange Commission (SEC).

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.