NewEdge Advisors LLC Decreases Stake in Alger AI Enablers & Adopters ETF $ALAI

NewEdge Advisors LLC cut its position in shares of Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) by 22.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,386 shares of the company’s stock after selling 22,400 shares during the period. NewEdge Advisors LLC’s holdings in Alger AI Enablers & Adopters ETF were worth $3,441,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. XML Financial LLC bought a new stake in Alger AI Enablers & Adopters ETF in the 1st quarter worth approximately $207,000. Prospect Financial Services LLC boosted its position in shares of Alger AI Enablers & Adopters ETF by 10.3% during the 4th quarter. Prospect Financial Services LLC now owns 7,552 shares of the company’s stock valued at $273,000 after acquiring an additional 707 shares during the last quarter. Sankala Group LLC bought a new position in shares of Alger AI Enablers & Adopters ETF during the 4th quarter valued at approximately $333,000. Rubicon Advisors GP purchased a new position in shares of Alger AI Enablers & Adopters ETF in the fourth quarter valued at $366,000. Finally, Thoroughbred Financial Services LLC grew its holdings in shares of Alger AI Enablers & Adopters ETF by 17.1% in the fourth quarter. Thoroughbred Financial Services LLC now owns 22,487 shares of the company’s stock valued at $812,000 after purchasing an additional 3,281 shares in the last quarter.

Alger AI Enablers & Adopters ETF Stock Performance

Shares of ALAI opened at $43.86 on Wednesday. The company’s fifty day moving average is $44.38 and its 200 day moving average is $41.35. Alger AI Enablers & Adopters ETF has a fifty-two week low of $30.84 and a fifty-two week high of $46.88. The stock has a market capitalization of $497.37 million, a PE ratio of 29.71 and a beta of 1.92.

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.