Ocean Park Asset Management LLC Takes Position in Alger AI Enablers & Adopters ETF $ALAI

Ocean Park Asset Management LLC acquired a new position in shares of Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 140,332 shares of the company’s stock, valued at approximately $6,405,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Wealth Effects LLC lifted its position in Alger AI Enablers & Adopters ETF by 4.6% in the 4th quarter. Wealth Effects LLC now owns 9,445 shares of the company’s stock valued at $341,000 after acquiring an additional 413 shares in the last quarter. Colonial River Investments LLC increased its holdings in Alger AI Enablers & Adopters ETF by 1.7% during the 4th quarter. Colonial River Investments LLC now owns 30,779 shares of the company’s stock worth $1,111,000 after purchasing an additional 520 shares in the last quarter. Prospect Financial Services LLC increased its holdings in Alger AI Enablers & Adopters ETF by 10.3% during the 4th quarter. Prospect Financial Services LLC now owns 7,552 shares of the company’s stock worth $273,000 after purchasing an additional 707 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Alger AI Enablers & Adopters ETF by 198.4% during the 4th quarter. Farther Finance Advisors LLC now owns 1,283 shares of the company’s stock worth $46,000 after purchasing an additional 853 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Alger AI Enablers & Adopters ETF in the 4th quarter valued at about $33,000.

Alger AI Enablers & Adopters ETF Price Performance

Shares of Alger AI Enablers & Adopters ETF stock opened at $44.70 on Wednesday. The firm has a market cap of $506.90 million, a price-to-earnings ratio of 29.71 and a beta of 1.93. The stock’s 50-day moving average is $44.19 and its 200-day moving average is $39.64. Alger AI Enablers & Adopters ETF has a one year low of $30.84 and a one year high of $46.88.

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.