Alger Russell Innovation ETF (INVN)
Alger Russell Innovation ETF operates in the Asset Management - Global industry of the Financial Services sector, headquartered in New York, NY, US. The stock last traded at $25.66, down 0.49% on the session, giving a market capitalisation of $10.4M. On trailing twelve-month figures it carries a trailing P/E of -111.56, a net margin of -5.1%. Its beta of 0.88 implies it has historically moved less than the broad market.
Under normal circumstances, the Alger Russell Innovation ETF commits a significant portion of its capital – specifically, at least 80% of its net assets, plus any borrowings for investment purposes – to the securities comprising its underlying index. This index itself is composed of U.S. equity securities selected by its manager based on a unique criterion: identifying pioneering American companies that the market has not yet fully recognized or appreciated. These are businesses actively developing, or otherwise benefitting from, novel products, services, technologies, or other significant advancements.
Alger Russell Innovation ETF is most often compared with the following Financial Services names: