Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI – Get Free Report) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totaling 16,878 shares, a decrease of 97.4% from the September 15th total of 653,018 shares. Based on an average trading volume of 86,516 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are sold short.
Alger AI Enablers & Adopters ETF Stock Performance
ALAI traded up $0.68 during mid-day trading on Friday, reaching $47.17. 84,436 shares of the stock were exchanged, compared to its average volume of 84,626. The stock has a market capitalization of $1.27 billion, a PE ratio of 29.71 and a beta of 1.89. The company has a 50 day moving average price of $45.55 and a two-hundred day moving average price of $42.88. Alger AI Enablers & Adopters ETF has a 1 year low of $30.84 and a 1 year high of $48.36.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Grove Bank & Trust increased its holdings in Alger AI Enablers & Adopters ETF by 2,491.1% in the 3rd quarter. Grove Bank & Trust now owns 32,751 shares of the company’s stock worth $1,522,000 after acquiring an additional 31,487 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Alger AI Enablers & Adopters ETF by 160.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,343 shares of the company’s stock valued at $155,000 after buying an additional 2,060 shares in the last quarter. Noble Wealth Management PBC grew its stake in Alger AI Enablers & Adopters ETF by 1.4% in the 3rd quarter. Noble Wealth Management PBC now owns 67,522 shares of the company’s stock valued at $3,138,000 after buying an additional 954 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in Alger AI Enablers & Adopters ETF by 5.9% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 10,125 shares of the company’s stock valued at $462,000 after acquiring an additional 565 shares during the period. Finally, NWM Advisors LLC lifted its position in shares of Alger AI Enablers & Adopters ETF by 7.3% during the second quarter. NWM Advisors LLC now owns 79,266 shares of the company’s stock worth $3,618,000 after acquiring an additional 5,371 shares in the last quarter.
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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