Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Short Interest Up 52.3% in October

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) saw a large increase in short interest in October. As of October 15th, there was short interest totaling 92,300 shares, an increase of 52.3% from the September 30th total of 60,600 shares. Based on an average daily volume of 123,800 shares, the short-interest ratio is presently 0.7 days. Approximately 1.2% of the company’s shares are sold short. Approximately 1.2% of the company’s shares are sold short. Based on an average daily volume of 123,800 shares, the short-interest ratio is presently 0.7 days.

Institutional Trading of Alger AI Enablers & Adopters ETF

Several large investors have recently modified their holdings of the stock. Thoroughbred Financial Services LLC bought a new stake in shares of Alger AI Enablers & Adopters ETF in the 1st quarter valued at $232,000. HighTower Advisors LLC grew its holdings in Alger AI Enablers & Adopters ETF by 172.7% in the first quarter. HighTower Advisors LLC now owns 24,273 shares of the company’s stock worth $556,000 after purchasing an additional 15,373 shares during the period. Wealth Effects LLC bought a new stake in Alger AI Enablers & Adopters ETF in the second quarter valued at $259,000. Aurora Private Wealth Inc. acquired a new position in shares of Alger AI Enablers & Adopters ETF during the second quarter valued at about $947,000. Finally, Onyx Bridge Wealth Group LLC raised its holdings in shares of Alger AI Enablers & Adopters ETF by 2.6% during the second quarter. Onyx Bridge Wealth Group LLC now owns 80,721 shares of the company’s stock valued at $2,490,000 after purchasing an additional 2,012 shares during the period.

Alger AI Enablers & Adopters ETF Stock Performance

Shares of ALAI stock opened at $38.66 on Tuesday. The company has a market cap of $291.88 million, a P/E ratio of 29.71 and a beta of 1.95. The stock has a 50 day simple moving average of $36.68 and a two-hundred day simple moving average of $31.86. Alger AI Enablers & Adopters ETF has a fifty-two week low of $20.03 and a fifty-two week high of $39.26.

Alger AI Enablers & Adopters ETF Company Profile

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.