Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Reaches New 12-Month High – Here’s What Happened

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $46.89 and last traded at $46.89, with a volume of 33473 shares. The stock had previously closed at $45.73.

Alger AI Enablers & Adopters ETF Price Performance

The company has a market cap of $1.34 billion, a P/E ratio of 29.71 and a beta of 1.92. The stock has a 50-day moving average of $44.49 and a 200 day moving average of $41.76.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC boosted its holdings in shares of Alger AI Enablers & Adopters ETF by 5.9% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 10,125 shares of the company’s stock valued at $462,000 after purchasing an additional 565 shares in the last quarter. NWM Advisors LLC lifted its holdings in shares of Alger AI Enablers & Adopters ETF by 7.3% in the second quarter. NWM Advisors LLC now owns 79,266 shares of the company’s stock worth $3,618,000 after acquiring an additional 5,371 shares during the last quarter. PCG Wealth Advisors LLC lifted its holdings in shares of Alger AI Enablers & Adopters ETF by 4.3% in the second quarter. PCG Wealth Advisors LLC now owns 35,845 shares of the company’s stock worth $1,636,000 after acquiring an additional 1,472 shares during the last quarter. XML Financial LLC boosted its stake in shares of Alger AI Enablers & Adopters ETF by 5.5% in the 2nd quarter. XML Financial LLC now owns 6,625 shares of the company’s stock valued at $302,000 after purchasing an additional 345 shares in the last quarter. Finally, Ocean Park Asset Management LLC acquired a new stake in shares of Alger AI Enablers & Adopters ETF in the 2nd quarter valued at approximately $6,405,000.

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.