Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) Shares Down 0.2% – Should You Sell?

Amplify AI Powered Equity ETF (NYSEARCA:AIEQ)’s share price was down 0.2% during mid-day trading on Monday . The company traded as low as $49.82 and last traded at $49.82. Approximately 5,235 shares traded hands during mid-day trading, an increase of 9% from the average daily volume of 4,798 shares. The stock had previously closed at $49.91.

Amplify AI Powered Equity ETF Stock Performance

The stock’s 50-day moving average price is $49.47 and its 200-day moving average price is $46.93. The company has a market capitalization of $122.57 million, a price-to-earnings ratio of 26.62 and a beta of 1.16.

Institutional Trading of Amplify AI Powered Equity ETF

A number of institutional investors have recently bought and sold shares of AIEQ. Parallel Advisors LLC grew its holdings in Amplify AI Powered Equity ETF by 39.8% in the first quarter. Parallel Advisors LLC now owns 1,404 shares of the company’s stock valued at $61,000 after purchasing an additional 400 shares during the last quarter. Royal Bank of Canada increased its position in shares of Amplify AI Powered Equity ETF by 290.3% in the fourth quarter. Royal Bank of Canada now owns 2,373 shares of the company’s stock valued at $107,000 after buying an additional 1,765 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Amplify AI Powered Equity ETF during the 4th quarter worth $38,000. LPL Financial LLC raised its stake in shares of Amplify AI Powered Equity ETF by 1.1% during the 4th quarter. LPL Financial LLC now owns 201,879 shares of the company’s stock worth $9,114,000 after buying an additional 2,261 shares during the last quarter. Finally, Integrated Wealth Concepts LLC boosted its position in shares of Amplify AI Powered Equity ETF by 2.6% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 17,179 shares of the company’s stock worth $771,000 after buying an additional 442 shares in the last quarter.

About Amplify AI Powered Equity ETF

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.