American Alpha Advisors LLC Invests $1.41 Million in Alger Concentrated Equity ETF $CNEQ

American Alpha Advisors LLC acquired a new stake in Alger Concentrated Equity ETF (NYSEARCA:CNEQ) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 40,200 shares of the company’s stock, valued at approximately $1,414,000. Alger Concentrated Equity ETF accounts for approximately 1.0% of American Alpha Advisors LLC’s investment portfolio, making the stock its 23rd biggest position. American Alpha Advisors LLC owned 0.84% of Alger Concentrated Equity ETF as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Commonwealth Equity Services LLC increased its holdings in Alger Concentrated Equity ETF by 81.2% in the 3rd 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 during the last quarter. Orion Porfolio Solutions LLC purchased a new stake in Alger Concentrated Equity ETF in the 2nd quarter worth approximately $3,947,000. Atria Investments Inc bought a new stake in Alger Concentrated Equity ETF during the second quarter valued at $3,355,000. Castle Rock Wealth Management LLC boosted its position in shares of Alger Concentrated Equity ETF by 2.9% during the 3rd quarter. Castle Rock Wealth Management LLC now owns 88,132 shares of the company’s stock valued at $3,134,000 after acquiring an additional 2,510 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC grew its stake in Alger Concentrated Equity ETF by 21.9% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 77,731 shares of the company’s stock worth $2,733,000 after buying an additional 13,972 shares in the last quarter.

Alger Concentrated Equity ETF Stock Down 0.5%

CNEQ opened at $34.96 on Tuesday. The business’s fifty day simple moving average is $34.57 and its 200 day simple moving average is $33.59. Alger Concentrated Equity ETF has a 52 week low of $19.33 and a 52 week high of $36.98. The stock has a market cap of $237.03 million, a PE ratio of 35.92 and a beta of 1.76.

Alger Concentrated Equity ETF Announces Dividend

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

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.