Short Interest in Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Declines By 38.7%

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) was the target of a significant drop in short interest in April. As of April 30th, there was short interest totaling 56,487 shares, a drop of 38.7% from the April 15th total of 92,118 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average trading volume of 86,925 shares, the short-interest ratio is currently 0.6 days.

Institutional Trading of Alger AI Enablers & Adopters ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arkadios Wealth Advisors lifted its stake in Alger AI Enablers & Adopters ETF by 31.5% during the third quarter. Arkadios Wealth Advisors now owns 716,904 shares of the company’s stock valued at $26,884,000 after purchasing an additional 171,705 shares during the last quarter. Stratos Wealth Partners LTD. lifted its stake in Alger AI Enablers & Adopters ETF by 134.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 116,966 shares of the company’s stock valued at $4,224,000 after purchasing an additional 67,042 shares during the last quarter. Apollon Financial LLC lifted its stake in Alger AI Enablers & Adopters ETF by 88.1% during the fourth quarter. Apollon Financial LLC now owns 52,013 shares of the company’s stock valued at $1,878,000 after purchasing an additional 24,362 shares during the last quarter. Axxcess Wealth Management LLC acquired a new stake in Alger AI Enablers & Adopters ETF during the third quarter valued at approximately $1,135,000. Finally, Orion Porfolio Solutions LLC lifted its stake in Alger AI Enablers & Adopters ETF by 249.2% during the third quarter. Orion Porfolio Solutions LLC now owns 184,629 shares of the company’s stock valued at $6,924,000 after purchasing an additional 131,752 shares during the last quarter.

Alger AI Enablers & Adopters ETF Price Performance

Shares of Alger AI Enablers & Adopters ETF stock traded down $0.70 on Friday, hitting $42.70. The company had a trading volume of 43,922 shares, compared to its average volume of 89,319. The business has a 50-day simple moving average of $36.75 and a 200-day simple moving average of $36.41. The company has a market cap of $384.73 million, a PE ratio of 29.71 and a beta of 1.84. Alger AI Enablers & Adopters ETF has a 52 week low of $26.87 and a 52 week high of $43.64.

About Alger AI Enablers & Adopters ETF

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.