Short Interest in Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Increases By 235.9%

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) saw a significant increase in short interest in March. As of March 13th, there was short interest totaling 56,683 shares, an increase of 235.9% from the February 26th total of 16,873 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average trading volume of 108,668 shares, the short-interest ratio is currently 0.5 days. Based on an average trading volume of 108,668 shares, the short-interest ratio is currently 0.5 days. Approximately 0.7% of the company’s shares are short sold.

Alger AI Enablers & Adopters ETF Stock Performance

ALAI stock traded up $0.29 during midday trading on Wednesday, reaching $33.72. 89,115 shares of the company traded hands, compared to its average volume of 87,227. The firm has a market capitalization of $277.52 million, a price-to-earnings 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. The business has a 50 day moving average of $34.96 and a 200-day moving average of $36.22.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ALAI. Goldstein Advisors LLC bought a new position in Alger AI Enablers & Adopters ETF during the third quarter valued at $22,294,000. LPL Financial LLC lifted its holdings in shares of Alger AI Enablers & Adopters ETF by 52.3% in the 4th quarter. LPL Financial LLC now owns 975,523 shares of the company’s stock worth $35,226,000 after acquiring an additional 334,901 shares during the last quarter. Members Advisory Group LLC boosted its stake in shares of Alger AI Enablers & Adopters ETF by 877.1% during the 4th quarter. Members Advisory Group LLC now owns 275,867 shares of the company’s stock worth $9,961,000 after purchasing an additional 247,635 shares during the period. Mirae Asset Securities USA Inc. purchased a new position in shares of Alger AI Enablers & Adopters ETF during the 3rd quarter worth about $8,438,000. Finally, Great Valley Advisor Group Inc. bought a new position in Alger AI Enablers & Adopters ETF during the 2nd quarter valued at about $5,866,000.

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.