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

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) saw a significant decline in short interest in July. As of July 31st, there was short interest totaling 25,732 shares, a decline of 36.0% from the July 15th total of 40,221 shares. Based on an average daily volume of 110,311 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.2% of the shares of the stock are sold short.

Alger AI Enablers & Adopters ETF Stock Down 2.6%

Shares of ALAI stock traded down $1.21 during trading on Tuesday, hitting $45.03. The company had a trading volume of 16,980 shares, compared to its average volume of 89,279. The stock’s 50-day moving average is $44.31 and its two-hundred day moving average is $39.91. The stock has a market capitalization of $510.64 million, a price-to-earnings ratio of 29.71 and a beta of 1.93. Alger AI Enablers & Adopters ETF has a 52 week low of $30.84 and a 52 week high of $46.88.

Institutional Investors Weigh In On Alger AI Enablers & Adopters ETF

A number of large investors have recently added to or reduced their stakes in ALAI. LPL Financial LLC increased its position in shares of Alger AI Enablers & Adopters ETF by 52.3% during the 4th quarter. LPL Financial LLC now owns 975,523 shares of the company’s stock valued at $35,226,000 after purchasing an additional 334,901 shares during the last quarter. Arkadios Wealth Advisors boosted its stake in Alger AI Enablers & Adopters ETF by 35.9% in the first quarter. Arkadios Wealth Advisors now owns 1,155,852 shares of the company’s stock worth $38,189,000 after buying an additional 305,456 shares in the last quarter. Members Advisory Group LLC grew its position in Alger AI Enablers & Adopters ETF by 877.1% during the fourth quarter. Members Advisory Group LLC now owns 275,867 shares of the company’s stock valued at $9,961,000 after acquiring an additional 247,635 shares during the last quarter. Great Valley Advisor Group Inc. bought a new position in Alger AI Enablers & Adopters ETF during the second quarter valued at approximately $5,866,000. Finally, Ocean Park Asset Management LLC bought a new stake in shares of Alger AI Enablers & Adopters ETF in the 2nd quarter worth approximately $6,405,000.

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.