NewEdge Advisors LLC Decreases Stock Position in Alger Concentrated Equity ETF $CNEQ

NewEdge Advisors LLC decreased its position in Alger Concentrated Equity ETF (NYSEARCA:CNEQ) by 12.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,295 shares of the company’s stock after selling 19,943 shares during the quarter. NewEdge Advisors LLC owned 1.01% of Alger Concentrated Equity ETF worth $4,366,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CNEQ. LPL Financial LLC boosted its stake in shares of Alger Concentrated Equity ETF by 132.5% in the fourth quarter. LPL Financial LLC now owns 1,075,771 shares of the company’s stock valued at $36,985,000 after purchasing an additional 613,133 shares during the period. Sanchez Wealth Management Group purchased a new stake in Alger Concentrated Equity ETF during the 4th quarter worth $7,399,000. Commonwealth Equity Services LLC increased its stake in Alger Concentrated Equity ETF by 24.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 206,284 shares of the company’s stock worth $7,092,000 after buying an additional 40,757 shares during the period. Truist Financial Corp lifted its holdings in Alger Concentrated Equity ETF by 42.6% in the 4th quarter. Truist Financial Corp now owns 190,856 shares of the company’s stock worth $6,562,000 after buying an additional 56,994 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in Alger Concentrated Equity ETF by 315.5% in the 3rd quarter. Raymond James Financial Inc. now owns 153,250 shares of the company’s stock worth $5,389,000 after buying an additional 116,369 shares in the last quarter.

Alger Concentrated Equity ETF Price Performance

NYSEARCA:CNEQ opened at $39.74 on Wednesday. The firm has a 50-day moving average of $39.64 and a two-hundred day moving average of $36.55. The stock has a market cap of $995.88 million, a P/E ratio of 35.92 and a beta of 1.75. Alger Concentrated Equity ETF has a 1-year low of $29.47 and a 1-year high of $42.15.

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.