Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Short Interest Down 59.9% in July

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) was the target of a large decrease in short interest in July. As of July 15th, there was short interest totaling 40,221 shares, a decrease of 59.9% from the June 30th total of 100,394 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 114,399 shares, the short-interest ratio is currently 0.4 days.

Alger AI Enablers & Adopters ETF Trading Down 2.4%

Shares of ALAI traded down $1.00 during mid-day trading on Wednesday, hitting $40.33. The company’s stock had a trading volume of 36,483 shares, compared to its average volume of 93,315. The firm has a 50-day simple moving average of $44.34 and a 200 day simple moving average of $39.14. The firm has a market capitalization of $423.46 million, a P/E ratio of 29.71 and a beta of 1.89. Alger AI Enablers & Adopters ETF has a 1-year low of $30.84 and a 1-year high of $46.88.

Institutional Investors Weigh In On Alger AI Enablers & Adopters ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Effects LLC grew its stake in shares of Alger AI Enablers & Adopters ETF by 4.6% during the 4th quarter. Wealth Effects LLC now owns 9,445 shares of the company’s stock worth $341,000 after purchasing an additional 413 shares during the period. Colonial River Investments LLC lifted its stake in shares of Alger AI Enablers & Adopters ETF by 1.7% in the fourth quarter. Colonial River Investments LLC now owns 30,779 shares of the company’s stock valued at $1,111,000 after purchasing an additional 520 shares during the period. Prospect Financial Services LLC boosted its holdings in Alger AI Enablers & Adopters ETF by 10.3% during the fourth quarter. Prospect Financial Services LLC now owns 7,552 shares of the company’s stock worth $273,000 after buying an additional 707 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Alger AI Enablers & Adopters ETF by 198.4% during the fourth quarter. Farther Finance Advisors LLC now owns 1,283 shares of the company’s stock worth $46,000 after buying an additional 853 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in Alger AI Enablers & Adopters ETF during the fourth quarter worth about $33,000.

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.