Alger Mid Cap 40 ETF (NYSEARCA:FRTY) Shares Down 0.7%

Shares of Alger Mid Cap 40 ETF (NYSEARCA:FRTY) fell 0.7% during trading on Tuesday . The stock traded as low as $15.76 and last traded at $15.79. 3,113 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 9,760 shares. The stock had previously closed at $15.90.

Alger Mid Cap 40 ETF Stock Performance

The company has a market cap of $34.73 million, a PE ratio of 27.68 and a beta of 0.87. The company’s 50-day simple moving average is $15.63 and its 200 day simple moving average is $13.74.

Institutional Investors Weigh In On Alger Mid Cap 40 ETF

A hedge fund recently raised its stake in Alger Mid Cap 40 ETF stock. Fred Alger Management LLC increased its stake in shares of Alger Mid Cap 40 ETF (NYSEARCA:FRTY) by 3.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 341,700 shares of the company’s stock after acquiring an additional 11,594 shares during the quarter. Fred Alger Management LLC owned about 13.73% of Alger Mid Cap 40 ETF worth $4,016,000 at the end of the most recent quarter.

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.