Western Wealth Management LLC Grows Stock Position in Alger Concentrated Equity ETF $CNEQ

Western Wealth Management LLC raised its position in Alger Concentrated Equity ETF (NYSEARCA:CNEQ) by 112.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,899 shares of the company’s stock after acquiring an additional 16,883 shares during the quarter. Western Wealth Management LLC’s holdings in Alger Concentrated Equity ETF were worth $993,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. LPL Financial LLC lifted its position in shares of Alger Concentrated Equity ETF by 132.5% during the fourth quarter. LPL Financial LLC now owns 1,075,771 shares of the company’s stock worth $36,985,000 after purchasing an additional 613,133 shares in the last quarter. Sanchez Wealth Management Group acquired a new stake in Alger Concentrated Equity ETF during the 4th quarter valued at $7,399,000. NewEdge Advisors LLC acquired a new stake in Alger Concentrated Equity ETF during the 3rd quarter valued at $4,908,000. Orion Porfolio Solutions LLC purchased a new stake in Alger Concentrated Equity ETF during the 2nd quarter worth $3,947,000. Finally, Raymond James Financial Inc. increased its stake in Alger Concentrated Equity ETF by 315.5% during 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 during the period.

Alger Concentrated Equity ETF Price Performance

Shares of CNEQ stock opened at $40.80 on Friday. The company’s fifty day moving average price is $39.62 and its two-hundred day moving average price is $36.63. The firm has a market capitalization of $1.02 billion, a P/E ratio of 35.92 and a beta of 1.75. Alger Concentrated Equity ETF has a 12 month low of $29.47 and a 12 month 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.