Sanchez Wealth Management Group Invests $7.40 Million in Alger Concentrated Equity ETF $CNEQ

Sanchez Wealth Management Group purchased a new position in shares of Alger Concentrated Equity ETF (NYSEARCA:CNEQ) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 215,214 shares of the company’s stock, valued at approximately $7,399,000. Alger Concentrated Equity ETF makes up about 1.6% of Sanchez Wealth Management Group’s investment portfolio, making the stock its 19th biggest holding. Sanchez Wealth Management Group owned 3.09% of Alger Concentrated Equity ETF at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. bought a new position in shares of Alger Concentrated Equity ETF during the fourth quarter worth $39,000. Osaic Holdings Inc. boosted its position in shares of 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 in the last quarter. Global Retirement Partners LLC bought a new position in shares of Alger Concentrated Equity ETF during the third quarter worth $136,000. Private Trust Co. NA bought a new position in shares of Alger Concentrated Equity ETF during the fourth quarter worth $138,000. Finally, Prosperity Financial Group Inc. bought a new position in shares of Alger Concentrated Equity ETF during the third quarter worth $221,000.

Alger Concentrated Equity ETF Price Performance

Shares of NYSEARCA CNEQ opened at $37.85 on Monday. The company’s fifty day moving average is $33.67 and its 200-day moving average is $34.18. The stock has a market cap of $524.22 million, a price-to-earnings ratio of 35.92 and a beta of 1.68. Alger Concentrated Equity ETF has a twelve month low of $24.68 and a twelve month high of $38.33.

Alger Concentrated Equity ETF Company 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.