NewEdge Advisors LLC Reduces Position in Alger AI Enablers & Adopters ETF $ALAI

NewEdge Advisors LLC trimmed its holdings in Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) by 21.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 97,786 shares of the company’s stock after selling 26,125 shares during the period. NewEdge Advisors LLC’s holdings in Alger AI Enablers & Adopters ETF were worth $3,231,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Effects LLC boosted its position in Alger AI Enablers & Adopters ETF by 4.6% during the fourth quarter. Wealth Effects LLC now owns 9,445 shares of the company’s stock worth $341,000 after acquiring an additional 413 shares during the last quarter. Colonial River Investments LLC raised its holdings in Alger AI Enablers & Adopters ETF by 1.7% in the 4th quarter. Colonial River Investments LLC now owns 30,779 shares of the company’s stock valued at $1,111,000 after acquiring an additional 520 shares during the last quarter. Prospect Financial Services LLC raised its holdings in Alger AI Enablers & Adopters ETF by 10.3% in the 4th quarter. Prospect Financial Services LLC now owns 7,552 shares of the company’s stock valued at $273,000 after acquiring an additional 707 shares during the last quarter. 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 purchasing an additional 853 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in Alger AI Enablers & Adopters ETF in the 4th quarter worth approximately $33,000.

Alger AI Enablers & Adopters ETF Price Performance

Shares of Alger AI Enablers & Adopters ETF stock opened at $45.67 on Thursday. The stock’s 50 day simple moving average is $44.19 and its 200-day simple moving average is $39.71. The stock has a market cap of $517.90 million, a P/E ratio of 29.71 and a beta of 1.93. Alger AI Enablers & Adopters ETF has a 1-year low of $30.84 and a 1-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.