Shares of Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI – Get Free Report) saw an uptick in trading volume on Thursday. Approximately 162,649 shares were traded during trading, an increase of 97% from the average daily volume of 82,478 shares. The stock last traded at $43.58 and had previously closed at $44.06.
Alger AI Enablers & Adopters ETF Stock Performance
The stock has a 50 day moving average of $45.23 and a two-hundred day moving average of $41.06. The firm has a market capitalization of $2.51 billion, a P/E ratio of 29.71 and a beta of 1.89.
Hedge Funds Weigh In On Alger AI Enablers & Adopters ETF
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arkadios Wealth Advisors raised its position in shares of 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 buying an additional 305,456 shares during the last quarter. Ocean Park Asset Management LLC acquired a new stake in Alger AI Enablers & Adopters ETF during the second quarter worth about $6,405,000. Western Pacific Wealth Management LP increased its stake in Alger AI Enablers & Adopters ETF by 354.6% during the third quarter. Western Pacific Wealth Management LP now owns 49,169 shares of the company’s stock valued at $2,285,000 after acquiring an additional 38,354 shares during the period. Grove Bank & Trust increased its stake in Alger AI Enablers & Adopters ETF by 2,491.1% during the third quarter. Grove Bank & Trust now owns 32,751 shares of the company’s stock valued at $1,522,000 after acquiring an additional 31,487 shares during the period. Finally, Sax Wealth Advisors LLC bought a new position in Alger AI Enablers & Adopters ETF during the third quarter valued at about $1,313,000.
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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