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

Shares of Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) were up 0.5% on Thursday . The company traded as high as $46.71 and last traded at $46.70. Approximately 3,495 shares changed hands during trading, a decline of 28% from the average daily volume of 4,875 shares. The stock had previously closed at $46.45.

Amplify AI Powered Equity ETF Stock Up 0.5%

The stock has a fifty day moving average of $44.82 and a 200-day moving average of $45.09. The stock has a market capitalization of $116.75 million, a price-to-earnings ratio of 26.62 and a beta of 1.16.

Hedge Funds Weigh In On Amplify AI Powered Equity ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AIEQ. Raymond James Financial Inc. acquired a new position in Amplify AI Powered Equity ETF in the second quarter valued at approximately $124,000. Citadel Advisors LLC boosted its holdings in Amplify AI Powered Equity ETF by 113.2% in the third quarter. Citadel Advisors LLC now owns 14,677 shares of the company’s stock valued at $659,000 after purchasing an additional 7,793 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Amplify AI Powered Equity ETF by 2.6% in the third quarter. Integrated Wealth Concepts LLC now owns 17,179 shares of the company’s stock valued at $771,000 after purchasing an additional 442 shares in the last quarter. Parallel Advisors LLC acquired a new position in Amplify AI Powered Equity ETF in the fourth quarter valued at approximately $45,000. Finally, LPL Financial LLC boosted its holdings in Amplify AI Powered Equity ETF by 1.1% in the fourth quarter. LPL Financial LLC now owns 201,879 shares of the company’s stock valued at $9,114,000 after purchasing an additional 2,261 shares in the last quarter.

About Amplify AI Powered Equity ETF

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.