Alger Concentrated Equity ETF (CNEQ)

The concentrated equity strategy is driving a powerful multi-year trend, with the fund nearly doubling in value over the last two years as active stock picking outperforms the broad index. However, the immediate path forward looks choppy; despite sitting near its yearly highs, the price has been grinding lower over the past two weeks, suggesting the recent rally may be pausing before continuing. While the long-term thesis remains intact given the massive gains and lack of recent annual declines, the current technical setup feels like a consolidation phase rather than a breakout. On the income side, the yield is negligible, offering no cushion for investors seeking defensive income, making this purely a growth vehicle.