Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Short Interest Down 60.1% in February

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) was the target of a large decline in short interest in the month of February. As of February 13th, there was short interest totaling 32,657 shares, a decline of 60.1% from the January 29th total of 81,937 shares. Based on an average daily volume of 94,519 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.4% of the company’s stock are sold short. Approximately 0.4% of the company’s stock are sold short. Based on an average daily volume of 94,519 shares, the days-to-cover ratio is presently 0.3 days.

Hedge Funds Weigh In On Alger AI Enablers & Adopters ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC bought a new position in Alger AI Enablers & Adopters ETF during the 4th quarter worth about $33,000. Grove Bank & Trust acquired a new position in shares of Alger AI Enablers & Adopters ETF during the third quarter worth about $47,000. Farther Finance Advisors LLC lifted its stake in Alger AI Enablers & Adopters ETF by 198.4% in the 4th quarter. Farther Finance Advisors LLC now owns 1,283 shares of the company’s stock valued at $46,000 after acquiring an additional 853 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Alger AI Enablers & Adopters ETF in the 3rd quarter valued at approximately $227,000. Finally, Brookwood Investment Group LLC acquired a new position in Alger AI Enablers & Adopters ETF during the 4th quarter worth approximately $225,000.

Alger AI Enablers & Adopters ETF Stock Performance

NYSEARCA ALAI traded down $0.67 during trading hours on Friday, reaching $34.21. 74,775 shares of the company’s stock were exchanged, compared to its average volume of 84,433. The company has a market capitalization of $281.55 million, a price-to-earnings ratio of 29.71 and a beta of 1.95. The company’s 50-day moving average is $35.96 and its two-hundred day moving average is $36.14. Alger AI Enablers & Adopters ETF has a one year low of $20.03 and a one year high of $39.26.

Alger AI Enablers & Adopters ETF Dividend Announcement

The business also recently disclosed an annual dividend, which was paid on Wednesday, December 31st. Investors of record on Thursday, December 18th were issued a dividend of $0.5411 per share. This represents a dividend yield of 151.0%. The ex-dividend date was Thursday, December 18th.

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.