Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI – Get Free Report) saw a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 653,018 shares, an increase of 1,385.9% from the August 31st total of 43,947 shares. Based on an average daily volume of 47,881 shares, the days-to-cover ratio is currently 13.6 days. Approximately 2.3% of the company’s stock are sold short.
Alger AI Enablers & Adopters ETF Trading Up 0.1%
Alger AI Enablers & Adopters ETF stock opened at $46.93 on Friday. The firm’s fifty day simple moving average is $44.69 and its 200-day simple moving average is $41.98. The company has a market capitalization of $1.34 billion, a P/E ratio of 29.71 and a beta of 1.92. Alger AI Enablers & Adopters ETF has a 1-year low of $30.84 and a 1-year high of $47.46.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALAI. Integrated Wealth Concepts LLC raised its stake in Alger AI Enablers & Adopters ETF by 5.9% during the second quarter. Integrated Wealth Concepts LLC now owns 10,125 shares of the company’s stock worth $462,000 after acquiring an additional 565 shares in the last quarter. NWM Advisors LLC boosted its stake in shares of Alger AI Enablers & Adopters ETF by 7.3% in the 2nd quarter. NWM Advisors LLC now owns 79,266 shares of the company’s stock valued at $3,618,000 after purchasing an additional 5,371 shares in the last quarter. PCG Wealth Advisors LLC boosted its stake in shares of Alger AI Enablers & Adopters ETF by 4.3% in the 2nd quarter. PCG Wealth Advisors LLC now owns 35,845 shares of the company’s stock valued at $1,636,000 after purchasing an additional 1,472 shares in the last quarter. XML Financial LLC boosted its stake in shares of Alger AI Enablers & Adopters ETF by 5.5% in the 2nd quarter. XML Financial LLC now owns 6,625 shares of the company’s stock valued at $302,000 after purchasing an additional 345 shares in the last quarter. Finally, Ocean Park Asset Management LLC bought a new stake in shares of Alger AI Enablers & Adopters ETF in the 2nd quarter worth about $6,405,000.
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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