Formidable Fortress ETF (NYSEARCA:KONG) Shares Up 0.9%

Formidable Fortress ETF (NYSEARCA:KONG)’s stock price shot up 0.9% on Wednesday . The stock traded as high as $27.64 and last traded at $27.64. 1,434 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 2,547 shares. The stock had previously closed at $27.39.

Formidable Fortress ETF Trading Up 0.9 %

The company has a market capitalization of $29.02 million, a price-to-earnings ratio of 19.10 and a beta of 0.70. The firm’s fifty day simple moving average is $26.72 and its two-hundred day simple moving average is $25.99.

Hedge Funds Weigh In On Formidable Fortress ETF

An institutional investor recently raised its position in Formidable Fortress ETF stock. Formidable Asset Management LLC raised its position in Formidable Fortress ETF (NYSEARCA:KONG) by 5.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,013,115 shares of the company’s stock after purchasing an additional 54,299 shares during the quarter. Formidable Fortress ETF comprises 5.6% of Formidable Asset Management LLC’s investment portfolio, making the stock its 4th biggest position. Formidable Asset Management LLC owned 96.49% of Formidable Fortress ETF worth $25,434,000 at the end of the most recent quarter.

Formidable Fortress ETF Company Profile

The Formidable Fortress ETF (KONG) is an exchange-traded fund that mostly invests in total market equity. The fund seeks to provide long-term capital appreciation by actively selecting a narrow basket of large- and mid-cap stocks from around the world. KONG was launched on Jul 22, 2021 and is managed by Formidable.