Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) Stock Jumps 0.8% – Here’s Why

Shares of Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) were up 0.8% during trading on Monday. The company traded as high as $49.88 and last traded at $49.82. Approximately 2,635 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 4,919 shares. The stock had previously closed at $49.43.

Amplify AI Powered Equity ETF Price Performance

The company’s 50-day moving average is $50.16 and its two-hundred day moving average is $48.69. The firm has a market cap of $114.59 million, a P/E ratio of 26.62 and a beta of 1.17.

Hedge Funds Weigh In On Amplify AI Powered Equity ETF

A hedge fund recently raised its position in Amplify AI Powered Equity ETF stock. Wellington Altus USA Inc. increased its position in shares of Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) by 161.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,750 shares of the company’s stock after acquiring an additional 1,700 shares during the period. Wellington Altus USA Inc. owned about 0.14% of Amplify AI Powered Equity ETF worth $136,000 as of its most recent filing with the Securities and Exchange Commission.

Amplify AI Powered Equity ETF Company Profile

The AI Powered Equity ETF (AIEQ) is an exchange-traded fund that is based on the S&P Total Market index. The fund is an actively-managed fund of US stocks selected by a proprietary, quantitative model that incorporates artificial intelligence (AI). AIEQ was launched on Oct 17, 2017 and is managed by ETF Managers Group.