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

Alger Mid Cap 40 ETF (NYSEARCA:FRTY) was the target of a large growth in short interest in September. As of September 30th, there was short interest totaling 47,606 shares, a growth of 752.1% from the September 15th total of 5,587 shares. Based on an average daily trading volume, of 17,296 shares, the short-interest ratio is presently 2.8 days. Currently, 0.7% of the company’s stock are sold short.

Alger Mid Cap 40 ETF Trading Up 2.2%

FRTY stock traded up $0.51 during trading on Friday, reaching $23.47. 16,929 shares of the stock were exchanged, compared to its average volume of 28,043. The firm’s 50 day moving average is $23.09 and its 200 day moving average is $22.40. Alger Mid Cap 40 ETF has a twelve month low of $18.46 and a twelve month high of $24.82. The firm has a market cap of $155.37 million, a P/E ratio of 36.46 and a beta of 1.12.

Institutional Investors Weigh In On Alger Mid Cap 40 ETF

A hedge fund recently bought a new position in Alger Mid Cap 40 ETF stock. Janney Montgomery Scott LLC bought a new position in shares of Alger Mid Cap 40 ETF (NYSEARCA:FRTY) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,448 shares of the company’s stock, valued at approximately $204,000. Janney Montgomery Scott LLC owned 0.17% of Alger Mid Cap 40 ETF as of its most recent SEC filing.

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.