Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI – Get Free Report) saw unusually-high trading volume on Thursday. 162,649 shares traded hands during trading, an increase of 97% from the average daily volume of 82,478 shares. The stock last traded at $43.58 and had previously closed at $44.06.
Alger AI Enablers & Adopters ETF Stock Performance
The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 29.71 and a beta of 1.89. The firm’s 50 day simple moving average is $45.15 and its 200 day simple moving average is $41.11.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the stock. Trek Financial LLC lifted its stake in shares of Alger AI Enablers & Adopters ETF by 60.1% in the 3rd quarter. Trek Financial LLC now owns 11,569 shares of the company’s stock worth $538,000 after acquiring an additional 4,343 shares during the period. Oppenheimer & Co. Inc. purchased a new position in Alger AI Enablers & Adopters ETF in the third quarter worth $996,000. Sunrise Financial Services LLC raised its position in Alger AI Enablers & Adopters ETF by 11.1% in the third quarter. Sunrise Financial Services LLC now owns 130,369 shares of the company’s stock worth $6,058,000 after acquiring an additional 13,036 shares in the last quarter. Western Pacific Wealth Management LP lifted its holdings in Alger AI Enablers & Adopters ETF by 354.6% in the third quarter. Western Pacific Wealth Management LP now owns 49,169 shares of the company’s stock valued at $2,285,000 after acquiring an additional 38,354 shares during the period. Finally, WealthBridge Capital Management LLC acquired a new stake in Alger AI Enablers & Adopters ETF in the third quarter valued at $248,000.
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.
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