Alger Mid Cap 40 ETF (NYSEARCA:FRTY) Sees Significant Increase in Short Interest

Alger Mid Cap 40 ETF (NYSEARCA:FRTY) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totaling 3,876 shares, a growth of 91.1% from the March 31st total of 2,028 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily volume of 14,814 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Trading of Alger Mid Cap 40 ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in FRTY. Janney Montgomery Scott LLC bought a new stake in Alger Mid Cap 40 ETF during the 1st quarter worth about $204,000. NewEdge Advisors LLC bought a new stake in Alger Mid Cap 40 ETF during the 2nd quarter worth about $850,000. Whipplewood Advisors LLC raised its holdings in Alger Mid Cap 40 ETF by 6.8% during the 3rd quarter. Whipplewood Advisors LLC now owns 49,758 shares of the company’s stock worth $1,114,000 after purchasing an additional 3,162 shares during the last quarter. Finally, Flagship Harbor Advisors LLC raised its holdings in Alger Mid Cap 40 ETF by 2.5% during the 4th quarter. Flagship Harbor Advisors LLC now owns 85,356 shares of the company’s stock worth $1,797,000 after purchasing an additional 2,064 shares during the last quarter.

Alger Mid Cap 40 ETF Stock Performance

Shares of NYSEARCA:FRTY opened at $21.02 on Monday. The stock has a market capitalization of $127.17 million, a P/E ratio of 36.46 and a beta of 1.13. Alger Mid Cap 40 ETF has a 1-year low of $15.68 and a 1-year high of $23.36. The business has a 50-day moving average price of $20.25 and a two-hundred day moving average price of $21.04.

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.