Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) Trading 0.5% Higher – Should You Buy?

Amplify AI Powered Equity ETF (NYSEARCA:AIEQ)’s share price shot up 0.5% during trading on Monday . The company traded as high as $50.91 and last traded at $50.76. Approximately 3,621 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 4,641 shares. The stock had previously closed at $50.52.

Amplify AI Powered Equity ETF Stock Down 0.0%

The company’s 50 day moving average price is $49.65 and its 200 day moving average price is $47.40. The firm has a market capitalization of $123.30 million, a price-to-earnings ratio of 26.62 and a beta of 1.16.

Institutional Trading of Amplify AI Powered Equity ETF

Large investors have recently made changes to their positions in the business. Kestra Advisory Services LLC purchased a new stake in Amplify AI Powered Equity ETF in the fourth quarter valued at $38,000. Parallel Advisors LLC purchased a new position in shares of Amplify AI Powered Equity ETF during the 4th quarter valued at approximately $45,000. Royal Bank of Canada grew 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 purchasing an additional 1,765 shares during the period. Raymond James Financial Inc. acquired a new stake in Amplify AI Powered Equity ETF in the 2nd quarter worth about $124,000. Finally, Citadel Advisors LLC increased its position in shares of Amplify AI Powered Equity ETF by 113.2% during the third quarter. Citadel Advisors LLC now owns 14,677 shares of the company’s stock worth $659,000 after purchasing an additional 7,793 shares in the last quarter.

Amplify AI Powered Equity ETF Company Profile

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.