Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Stock Short Interest Report for September

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 16,878 shares, a drop of 97.4% from the September 15th total of 653,018 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 86,516 shares, the short-interest ratio is presently 0.2 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC boosted its stake in shares of Alger AI Enablers & Adopters ETF by 143.9% in the first quarter. Private Advisor Group LLC now owns 46,842 shares of the company’s stock valued at $1,548,000 after buying an additional 27,639 shares during the period. Ocean Park Asset Management LLC bought a new position in Alger AI Enablers & Adopters ETF during the 2nd quarter worth $6,405,000. Arkadios Wealth Advisors raised its holdings in Alger AI Enablers & Adopters ETF by 35.9% in the 1st quarter. Arkadios Wealth Advisors now owns 1,155,852 shares of the company’s stock valued at $38,189,000 after acquiring an additional 305,456 shares in the last quarter. CFO Capital Management LLC acquired a new position in Alger AI Enablers & Adopters ETF in the 4th quarter valued at $1,219,000. Finally, Grove Bank & Trust lifted its position in shares of Alger AI Enablers & Adopters ETF by 2,491.1% during the 3rd quarter. Grove Bank & Trust now owns 32,751 shares of the company’s stock valued at $1,522,000 after acquiring an additional 31,487 shares during the period.

Alger AI Enablers & Adopters ETF Stock Up 1.5%

Shares of ALAI traded up $0.68 during midday trading on Friday, reaching $47.17. 84,436 shares of the stock were exchanged, compared to its average volume of 84,626. The stock’s 50 day simple moving average is $45.55 and its 200 day simple moving average is $42.88. The company has a market cap of $1.27 billion, a P/E ratio of 29.71 and a beta of 1.89. Alger AI Enablers & Adopters ETF has a twelve month low of $30.84 and a twelve month high of $48.36.

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.