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

Shares of Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) traded up 0.5% on Monday . The company traded as high as $50.91 and last traded at $50.76. Approximately 3,621 shares were traded during trading, a decline of 22% from the average session volume of 4,641 shares. The stock had previously closed at $50.52.

Amplify AI Powered Equity ETF Price Performance

The business’s 50 day moving average is $49.63 and its 200-day moving average is $47.36. The company has a market cap of $122.84 million, a PE ratio of 26.62 and a beta of 1.16.

Hedge Funds Weigh In On Amplify AI Powered Equity ETF

Several large investors have recently bought and sold shares of the business. Parallel Advisors LLC increased its holdings in shares of Amplify AI Powered Equity ETF by 39.8% in the 1st quarter. Parallel Advisors LLC now owns 1,404 shares of the company’s stock valued at $61,000 after acquiring an additional 400 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake 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 during the last quarter. Kestra Advisory Services LLC purchased a new position in Amplify AI Powered Equity ETF in the fourth quarter valued at approximately $38,000. Royal Bank of Canada lifted its position in shares of Amplify AI Powered Equity ETF by 290.3% during the 4th quarter. Royal Bank of Canada now owns 2,373 shares of the company’s stock worth $107,000 after buying an additional 1,765 shares during the last quarter. Finally, LPL Financial LLC lifted its position in shares of Amplify AI Powered Equity ETF by 1.1% during the 4th quarter. LPL Financial LLC now owns 201,879 shares of the company’s stock worth $9,114,000 after buying an additional 2,261 shares during 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.