Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Short Interest Down 60.1% in February

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) was the target of a large decline in short interest in February. As of February 13th, there was short interest totaling 32,657 shares, a decline of 60.1% from the January 29th total of 81,937 shares. Based on an average daily volume of 94,519 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.4% of the shares of the stock are short sold. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily volume of 94,519 shares, the days-to-cover ratio is currently 0.3 days.

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 company. Kestra Advisory Services LLC acquired a new stake in Alger AI Enablers & Adopters ETF during the 4th quarter valued at $33,000. Grove Bank & Trust acquired a new position in Alger AI Enablers & Adopters ETF during the third quarter valued at $47,000. Farther Finance Advisors LLC lifted its stake in Alger AI Enablers & Adopters ETF by 198.4% in the 4th quarter. Farther Finance Advisors LLC now owns 1,283 shares of the company’s stock worth $46,000 after acquiring an additional 853 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Alger AI Enablers & Adopters ETF in the 3rd quarter worth about $227,000. Finally, Brookwood Investment Group LLC acquired a new stake in Alger AI Enablers & Adopters ETF during the 4th quarter worth about $225,000.

Alger AI Enablers & Adopters ETF Stock Performance

Shares of NYSEARCA ALAI traded down $0.67 during trading on Friday, hitting $34.21. The company had a trading volume of 74,775 shares, compared to its average volume of 84,433. The business’s 50-day moving average is $35.91 and its 200 day moving average is $36.16. The company has a market cap of $281.55 million, a P/E ratio of 29.71 and a beta of 1.95. Alger AI Enablers & Adopters ETF has a 52 week low of $20.03 and a 52 week high of $39.26.

Alger AI Enablers & Adopters ETF Announces Dividend

The company also recently announced an annual dividend, which was paid on Wednesday, December 31st. Stockholders of record on Thursday, December 18th were given a $0.5411 dividend. This represents a dividend yield of 151.0%. The ex-dividend date of this dividend was Thursday, December 18th.

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.