Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI – Get Free Report) saw a large decline in short interest in the month of April. As of April 30th, there was short interest totaling 56,487 shares, a decline of 38.7% from the April 15th total of 92,118 shares. Based on an average trading volume of 86,925 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.6% of the company’s shares are sold short.
Hedge Funds Weigh In On Alger AI Enablers & Adopters ETF
A number of large investors have recently bought and sold shares of ALAI. NewEdge Advisors LLC purchased a new position in Alger AI Enablers & Adopters ETF during the 2nd quarter valued at $1,480,000. Great Valley Advisor Group Inc. purchased a new stake in shares of Alger AI Enablers & Adopters ETF in the 2nd quarter worth $5,866,000. Orion Porfolio Solutions LLC purchased a new stake in shares of Alger AI Enablers & Adopters ETF in the 2nd quarter worth $1,631,000. Osaic Holdings Inc. lifted its holdings in shares of Alger AI Enablers & Adopters ETF by 25.9% in the 2nd quarter. Osaic Holdings Inc. now owns 6,886 shares of the company’s stock worth $212,000 after buying an additional 1,415 shares during the period. Finally, Arkadios Wealth Advisors lifted its holdings in shares of Alger AI Enablers & Adopters ETF by 31.5% in the 3rd quarter. Arkadios Wealth Advisors now owns 716,904 shares of the company’s stock worth $26,884,000 after buying an additional 171,705 shares during the period.
Alger AI Enablers & Adopters ETF Stock Down 0.3%
ALAI traded down $0.11 during trading hours on Tuesday, reaching $41.78. 28,494 shares of the company’s stock traded hands, compared to its average volume of 88,290. The firm has a 50-day moving average price of $36.90 and a 200 day moving average price of $36.43. Alger AI Enablers & Adopters ETF has a 52-week low of $26.87 and a 52-week high of $43.64. The firm has a market capitalization of $376.44 million, a PE ratio of 29.71 and a beta of 1.84.
About Alger AI Enablers & Adopters ETF
The Alger AI Enablers & Adopters ETF (ALAI) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is actively managed, investing in firms benefiting from developing, integrating or enabling artificial intelligence (AI) technology. The fund seeks long-term capital growth through fundamental research ALAI was launched on Apr 4, 2024 and is issued by Alger.
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