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ALPS Level Four Large Cap Growth Active ETF (NASDAQ: LGRO - Get Free Report)'s share price traded up 0.1% on Thursday. The stock traded as high as $41.32 and last traded at $41.32. 3,004 shares were traded during mid-day trading, a decline of 64% from the average session volume of 8,432 shares. The stock had
LGRO is a relatively new large-cap growth ETF with a 0.50% expense ratio, a 0.28% median bid-ask spread, and $86 million in assets under management. Following a proprietary high-conviction investment strategy, the fund's manager selects 40-50 securities perceived to be trading below their long-term intrinsic value. The approach supposedly emphasizes growth, value, and quality, but my fundamental analysis indicates LGRO's combination is the weakest in a peer group that includes SCHG, SPYG, SFY, and QGRO.
We've been marveling at the traction actively managed ETFs are enjoying this year. As a category, we've seen active ETFs take in about 1/3 of all net asset inflows year-to-date.
The ongoing narrative around the strength of large-cap equities will continue to center around forthcoming rate cuts. Once the Federal Reserve receives the economic data it needs to loosen monetary policy and hit its inflation goal of 2%, it could propel growth-oriented large-cap stocks into the stratosphere.
If the market narrative in 2023 has meant anything, it's the marked rise in interest and flows for active ETFs. Active strategies offer significant benefits that have stood out in an uncertain landscape.
It's been a complicated year so far for growth investing. On the one hand, value mavens entering 2023 likely did not expect growth to prove so resilient.
The Fund can allocate to companies or sectors in response to changing economic or market conditions DENVER , Aug. 23, 2023 /PRNewswire/ -- SS&C ALPS Advisors, a wholly-owned subsidiary of SS&C Technologies Holdings, Inc. (Nasdaq: SSNC), has partnered with Level Four Capital Management to launch the Level Four Large Cap Growth Active ETF (Nasdaq: LGRO), an active, large-cap equity ETF. "ALPS Advisors is recognized for its collaboration with world-class sub-advisors, and our Level Four Capital Management partnership continues this tradition," said Laton Spahr, President of SS&C ALPS Advisors.
SEC filings for LGRO aren't indexed yet — common for recently launched funds. Browse the issuer's filings on SEC EDGAR directly.