Embree Financial Group Purchases New Position in Alger Concentrated Equity ETF $CNEQ

Embree Financial Group acquired a new stake in Alger Concentrated Equity ETF (NYSEARCA:CNEQ) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 24,772 shares of the company’s stock, valued at approximately $871,000. Embree Financial Group owned 0.59% of Alger Concentrated Equity ETF at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Osaic Holdings Inc. grew its stake in shares of Alger Concentrated Equity ETF by 114.5% in the second quarter. Osaic Holdings Inc. now owns 2,445 shares of the company’s stock valued at $73,000 after buying an additional 1,305 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Alger Concentrated Equity ETF in the second quarter valued at approximately $239,000. Envestnet Asset Management Inc. purchased a new stake in shares of Alger Concentrated Equity ETF during the second quarter valued at approximately $788,000. Truist Financial Corp acquired a new position in shares of Alger Concentrated Equity ETF during the second quarter worth $842,000. Finally, Onyx Bridge Wealth Group LLC boosted its stake in shares of Alger Concentrated Equity ETF by 9.3% in the second quarter. Onyx Bridge Wealth Group LLC now owns 42,696 shares of the company’s stock valued at $1,268,000 after purchasing an additional 3,636 shares during the period.

Alger Concentrated Equity ETF Trading Up 2.0%

CNEQ opened at $33.76 on Friday. Alger Concentrated Equity ETF has a twelve month low of $19.33 and a twelve month high of $36.98. The firm has a market cap of $171.84 million, a price-to-earnings ratio of 35.92 and a beta of 1.76. The company has a fifty day simple moving average of $34.70 and a 200 day simple moving average of $32.52.

Alger Concentrated Equity ETF Announces Dividend

The firm also recently announced an annual dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Thursday, December 18th will be given a dividend of $0.18 per share. This represents a dividend yield of 53.0%. The ex-dividend date of this dividend is Thursday, December 18th.

Alger Concentrated Equity ETF Profile

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.