Sax Wealth Advisors LLC Makes New $1.31 Million Investment in Alger AI Enablers & Adopters ETF $ALAI

Sax Wealth Advisors LLC bought a new position in Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) in the 3rd quarter, HoldingsChannel reports. The fund bought 28,260 shares of the company’s stock, valued at approximately $1,313,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Grove Bank & Trust grew its holdings in shares of Alger AI Enablers & Adopters ETF by 2,491.1% during the third quarter. Grove Bank & Trust now owns 32,751 shares of the company’s stock valued at $1,522,000 after buying an additional 31,487 shares in the last quarter. Farther Finance Advisors LLC raised its position in Alger AI Enablers & Adopters ETF by 160.6% during the third quarter. Farther Finance Advisors LLC now owns 3,343 shares of the company’s stock valued at $155,000 after buying an additional 2,060 shares during the period. Noble Wealth Management PBC lifted its stake in Alger AI Enablers & Adopters ETF by 1.4% in the 3rd quarter. Noble Wealth Management PBC now owns 67,522 shares of the company’s stock worth $3,138,000 after acquiring an additional 954 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in Alger AI Enablers & Adopters ETF by 5.9% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 10,125 shares of the company’s stock worth $462,000 after acquiring an additional 565 shares in the last quarter. Finally, NWM Advisors LLC lifted its stake in Alger AI Enablers & Adopters ETF by 7.3% in the 2nd quarter. NWM Advisors LLC now owns 79,266 shares of the company’s stock worth $3,618,000 after acquiring an additional 5,371 shares in the last quarter.

Alger AI Enablers & Adopters ETF Trading Down 3.6%

Shares of NYSEARCA ALAI opened at $44.73 on Thursday. Alger AI Enablers & Adopters ETF has a one year low of $30.84 and a one year high of $48.36. The firm has a market capitalization of $1.37 billion, a PE ratio of 29.71 and a beta of 1.89. The business has a 50-day moving average price of $45.61 and a two-hundred day moving average price of $43.22.

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.