Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Sees Large Drop in Short Interest
by Amy Steele · The Cerbat GemAlger AI Enablers & Adopters ETF (NYSEARCA:ALAI – Get Free Report) was the target of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totaling 56,487 shares, a decrease of 38.7% from the April 15th total of 92,118 shares. Based on an average daily volume of 86,925 shares, the short-interest ratio is presently 0.6 days. Approximately 0.6% of the company’s shares are sold short.
Institutional Investors Weigh In On Alger AI Enablers & Adopters ETF
Several hedge funds have recently modified their holdings of ALAI. LPL Financial LLC lifted its holdings in shares of Alger AI Enablers & Adopters ETF by 52.3% during the fourth quarter. LPL Financial LLC now owns 975,523 shares of the company’s stock valued at $35,226,000 after purchasing an additional 334,901 shares during the last quarter. Members Advisory Group LLC lifted its holdings in shares of Alger AI Enablers & Adopters ETF by 877.1% during the fourth quarter. Members Advisory Group LLC now owns 275,867 shares of the company’s stock valued at $9,961,000 after purchasing an additional 247,635 shares during the last quarter. Great Valley Advisor Group Inc. purchased a new stake in shares of Alger AI Enablers & Adopters ETF during the second quarter valued at $5,866,000. Arkadios Wealth Advisors lifted its holdings in shares of Alger AI Enablers & Adopters ETF by 31.5% during the third quarter. Arkadios Wealth Advisors now owns 716,904 shares of the company’s stock valued at $26,884,000 after purchasing an additional 171,705 shares during the last quarter. Finally, Orion Porfolio Solutions LLC lifted its holdings in shares of Alger AI Enablers & Adopters ETF by 249.2% during the third quarter. Orion Porfolio Solutions LLC now owns 184,629 shares of the company’s stock valued at $6,924,000 after purchasing an additional 131,752 shares during the last quarter.
Alger AI Enablers & Adopters ETF Stock Down 1.9%
Shares of NYSEARCA ALAI traded down $0.81 during mid-day trading on Monday, hitting $41.89. 62,782 shares of the company traded hands, compared to its average volume of 89,036. Alger AI Enablers & Adopters ETF has a 1 year low of $26.87 and a 1 year high of $43.64. The stock has a market capitalization of $377.43 million, a price-to-earnings ratio of 29.71 and a beta of 1.84. The business has a 50 day moving average of $36.90 and a two-hundred day moving average of $36.43.
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.