Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Short Interest Update

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 43,947 shares, a growth of 58.9% from the August 15th total of 27,651 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily trading volume, of 52,860 shares, the days-to-cover ratio is currently 0.8 days.

Hedge Funds Weigh In On Alger AI Enablers & Adopters ETF

Large investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC raised its position in shares of Alger AI Enablers & Adopters ETF by 5.9% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 10,125 shares of the company’s stock worth $462,000 after buying an additional 565 shares during the period. NWM Advisors LLC increased its stake in Alger AI Enablers & Adopters ETF by 7.3% during the second quarter. NWM Advisors LLC now owns 79,266 shares of the company’s stock worth $3,618,000 after acquiring an additional 5,371 shares during the last quarter. PCG Wealth Advisors LLC increased its stake in Alger AI Enablers & Adopters ETF by 4.3% during the second quarter. PCG Wealth Advisors LLC now owns 35,845 shares of the company’s stock worth $1,636,000 after acquiring an additional 1,472 shares during the last quarter. XML Financial LLC raised its holdings in shares of Alger AI Enablers & Adopters ETF by 5.5% in the 2nd quarter. XML Financial LLC now owns 6,625 shares of the company’s stock worth $302,000 after purchasing an additional 345 shares during the period. Finally, Ocean Park Asset Management LLC purchased a new position in shares of Alger AI Enablers & Adopters ETF in the 2nd quarter worth about $6,405,000.

Alger AI Enablers & Adopters ETF Stock Up 1.6%

Shares of ALAI stock traded up $0.72 during trading hours on Thursday, hitting $44.98. 23,804 shares of the company were exchanged, compared to its average volume of 84,762. The firm has a market cap of $510.11 million, a PE ratio of 29.71 and a beta of 1.92. Alger AI Enablers & Adopters ETF has a 1 year low of $30.84 and a 1 year high of $46.88. The firm has a fifty day moving average of $44.37 and a 200 day moving average of $41.42.

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.