Short Interest in Alger Mid Cap 40 ETF (NYSEARCA:FRTY) Increases By 164.6%
by Doug Wharley · The Cerbat GemAlger Mid Cap 40 ETF (NYSEARCA:FRTY – Get Free Report) was the target of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 26,815 shares, a growth of 164.6% from the February 12th total of 10,135 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 26,220 shares, the days-to-cover ratio is presently 1.0 days. Based on an average daily trading volume, of 26,220 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.4% of the company’s shares are short sold.
Hedge Funds Weigh In On Alger Mid Cap 40 ETF
Several institutional investors and hedge funds have recently modified their holdings of the business. Flagship Harbor Advisors LLC increased its position in shares of Alger Mid Cap 40 ETF by 2.5% during the fourth quarter. Flagship Harbor Advisors LLC now owns 85,356 shares of the company’s stock worth $1,797,000 after acquiring an additional 2,064 shares in the last quarter. NewEdge Advisors LLC lifted its position in Alger Mid Cap 40 ETF by 5.5% in the 3rd quarter. NewEdge Advisors LLC now owns 46,630 shares of the company’s stock valued at $1,044,000 after acquiring an additional 2,416 shares in the last quarter. Finally, Whipplewood Advisors LLC boosted its stake in Alger Mid Cap 40 ETF by 6.8% in 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 period.
Alger Mid Cap 40 ETF Stock Performance
FRTY stock traded down $0.06 during midday trading on Friday, hitting $19.47. 14,334 shares of the company’s stock were exchanged, compared to its average volume of 32,923. Alger Mid Cap 40 ETF has a one year low of $13.56 and a one year high of $23.36. The company has a market cap of $127.53 million, a PE ratio of 36.46 and a beta of 1.12. The stock’s fifty day moving average price is $21.07 and its 200-day moving average price is $21.35.
Alger Mid Cap 40 ETF Announces Dividend
The firm also recently disclosed an annual dividend, which was paid on Wednesday, December 31st. Stockholders of record on Thursday, December 18th were issued a dividend of $0.041 per share. This represents a dividend yield of 20.0%. The ex-dividend date was Thursday, December 18th.
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.