Axxcess Wealth Management LLC Makes New Investment in Alger Concentrated Equity ETF $CNEQ

Axxcess Wealth Management LLC bought a new stake in Alger Concentrated Equity ETF (NYSEARCA:CNEQ) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 59,255 shares of the company’s stock, valued at approximately $2,084,000. Axxcess Wealth Management LLC owned 1.16% of Alger Concentrated Equity ETF at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Onyx Bridge Wealth Group LLC increased its holdings in Alger Concentrated Equity ETF by 1.0% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 43,105 shares of the company’s stock worth $1,516,000 after acquiring an additional 409 shares during the last quarter. Osaic Holdings Inc. boosted its position in Alger Concentrated Equity ETF by 114.5% during the second quarter. Osaic Holdings Inc. now owns 2,445 shares of the company’s stock worth $73,000 after purchasing an additional 1,305 shares during the period. Castle Rock Wealth Management LLC increased its stake in shares of Alger Concentrated Equity ETF by 2.9% in the third quarter. Castle Rock Wealth Management LLC now owns 88,132 shares of the company’s stock worth $3,134,000 after purchasing an additional 2,510 shares in the last quarter. Global Retirement Partners LLC purchased a new position in shares of Alger Concentrated Equity ETF in the third quarter worth about $136,000. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Alger Concentrated Equity ETF in the third quarter valued at approximately $232,000.

Alger Concentrated Equity ETF Trading Up 0.4%

Shares of CNEQ stock opened at $33.56 on Friday. Alger Concentrated Equity ETF has a 12 month low of $19.33 and a 12 month high of $36.98. The stock has a market capitalization of $241.63 million, a P/E ratio of 35.92 and a beta of 1.76. The firm’s 50 day moving average is $34.27 and its 200 day moving average is $34.12.

Alger Concentrated Equity ETF Dividend Announcement

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

About Alger Concentrated Equity ETF

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.