Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Short Interest Update

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 43,947 shares, an increase of 58.9% from the August 15th total of 27,651 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily trading volume, of 52,860 shares, the short-interest ratio is currently 0.8 days.

Institutional Investors Weigh In On Alger AI Enablers & Adopters ETF

Several hedge funds have recently modified their holdings of the business. Arkadios Wealth Advisors increased its holdings in Alger AI Enablers & Adopters ETF by 35.9% during the first quarter. Arkadios Wealth Advisors now owns 1,155,852 shares of the company’s stock valued at $38,189,000 after buying an additional 305,456 shares during the period. Goldstein Advisors LLC lifted its holdings in Alger AI Enablers & Adopters ETF by 2.4% during the fourth quarter. Goldstein Advisors LLC now owns 608,647 shares of the company’s stock worth $21,978,000 after buying an additional 14,137 shares during the period. Ocean Park Asset Management LLC purchased a new stake in Alger AI Enablers & Adopters ETF during the second quarter worth $6,405,000. Royal Bank of Canada boosted its position in Alger AI Enablers & Adopters ETF by 3.8% during the 1st quarter. Royal Bank of Canada now owns 158,006 shares of the company’s stock valued at $5,221,000 after acquiring an additional 5,779 shares in the last quarter. Finally, NWM Advisors LLC boosted its position in Alger AI Enablers & Adopters ETF by 7.3% during the 2nd quarter. NWM Advisors LLC now owns 79,266 shares of the company’s stock valued at $3,618,000 after acquiring an additional 5,371 shares in the last quarter.

Alger AI Enablers & Adopters ETF Price Performance

NYSEARCA:ALAI opened at $45.06 on Friday. Alger AI Enablers & Adopters ETF has a 1-year low of $30.84 and a 1-year high of $46.88. The company has a 50-day moving average of $44.37 and a 200 day moving average of $41.50. The firm has a market cap of $510.98 million, a PE ratio of 29.71 and a beta of 1.92.

Alger AI Enablers & Adopters ETF Company Profile

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.