Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI – Get Free Report) saw a large decrease in short interest during the month of July. As of July 31st, there was short interest totaling 25,732 shares, a decrease of 36.0% from the July 15th total of 40,221 shares. Based on an average daily volume of 110,311 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.2% of the company’s stock are short sold.
Institutional Trading of Alger AI Enablers & Adopters ETF
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC increased its stake in shares of Alger AI Enablers & Adopters ETF by 52.3% in the 4th quarter. LPL Financial LLC now owns 975,523 shares of the company’s stock worth $35,226,000 after purchasing an additional 334,901 shares in the last quarter. Arkadios Wealth Advisors grew its stake in Alger AI Enablers & Adopters ETF by 35.9% during the first quarter. Arkadios Wealth Advisors now owns 1,155,852 shares of the company’s stock valued at $38,189,000 after acquiring an additional 305,456 shares in the last quarter. Members Advisory Group LLC increased its holdings in shares of Alger AI Enablers & Adopters ETF by 877.1% in the fourth quarter. Members Advisory Group LLC now owns 275,867 shares of the company’s stock worth $9,961,000 after purchasing an additional 247,635 shares during the last quarter. Great Valley Advisor Group Inc. purchased a new position in shares of Alger AI Enablers & Adopters ETF in the second quarter valued at $5,866,000. Finally, Ocean Park Asset Management LLC purchased a new stake in shares of Alger AI Enablers & Adopters ETF during the 2nd quarter valued at about $6,405,000.
Alger AI Enablers & Adopters ETF Trading Down 2.6%
ALAI stock traded down $1.21 during midday trading on Tuesday, hitting $45.03. The company’s stock had a trading volume of 16,980 shares, compared to its average volume of 89,279. Alger AI Enablers & Adopters ETF has a 12 month low of $30.84 and a 12 month high of $46.88. The company has a market cap of $510.64 million, a PE ratio of 29.71 and a beta of 1.93. The firm’s 50-day moving average is $44.31 and its 200-day moving average is $39.91.
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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