Short Interest in Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Drops By 21.7%

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totaling 92,118 shares, a drop of 21.7% from the March 31st total of 117,634 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily volume of 140,084 shares, the short-interest ratio is presently 0.7 days.

Hedge Funds Weigh In On Alger AI Enablers & Adopters ETF

Several large investors have recently made changes to their positions in ALAI. Kestra Advisory Services LLC acquired a new stake in Alger AI Enablers & Adopters ETF during the fourth quarter valued at $33,000. Farther Finance Advisors LLC boosted its stake in shares of Alger AI Enablers & Adopters ETF by 198.4% during the 4th quarter. Farther Finance Advisors LLC now owns 1,283 shares of the company’s stock worth $46,000 after acquiring an additional 853 shares in the last quarter. XML Financial LLC acquired a new stake in shares of Alger AI Enablers & Adopters ETF during the 1st quarter valued at about $207,000. Osaic Holdings Inc. grew its position in shares of Alger AI Enablers & Adopters ETF by 25.9% during the 2nd quarter. Osaic Holdings Inc. now owns 6,886 shares of the company’s stock valued at $212,000 after acquiring an additional 1,415 shares during the period. Finally, Brookwood Investment Group LLC acquired a new stake in shares of Alger AI Enablers & Adopters ETF during the 4th quarter valued at about $225,000.

Alger AI Enablers & Adopters ETF Stock Up 1.8%

Shares of ALAI stock traded up $0.69 on Friday, hitting $40.08. The company had a trading volume of 65,560 shares, compared to its average volume of 93,543. Alger AI Enablers & Adopters ETF has a twelve month low of $24.62 and a twelve month high of $40.14. The firm has a market cap of $360.32 million, a P/E ratio of 29.71 and a beta of 1.85. The company has a 50-day moving average price of $35.35 and a 200-day moving average price of $36.11.

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.