Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) Shares Down 0.2% – Should You Sell?

Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) shares fell 0.2% on Monday . The stock traded as low as $49.82 and last traded at $49.82. Approximately 5,235 shares were traded during trading, an increase of 9% from the average session volume of 4,798 shares. The stock had previously closed at $49.91.

Amplify AI Powered Equity ETF Price Performance

The business’s fifty day moving average price is $49.45 and its 200-day moving average price is $46.90. The stock has a market capitalization of $122.06 million, a price-to-earnings ratio of 26.62 and a beta of 1.16.

Institutional Trading of Amplify AI Powered Equity ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AIEQ. Parallel Advisors LLC raised its holdings in shares of Amplify AI Powered Equity ETF by 39.8% in the first quarter. Parallel Advisors LLC now owns 1,404 shares of the company’s stock valued at $61,000 after purchasing an additional 400 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Amplify AI Powered Equity ETF by 2.6% during the third quarter. Integrated Wealth Concepts LLC now owns 17,179 shares of the company’s stock worth $771,000 after purchasing an additional 442 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in Amplify AI Powered Equity ETF in the 4th quarter worth about $38,000. Royal Bank of Canada increased its stake in Amplify AI Powered Equity ETF by 290.3% in the 4th quarter. Royal Bank of Canada now owns 2,373 shares of the company’s stock valued at $107,000 after buying an additional 1,765 shares during the last quarter. Finally, LPL Financial LLC increased its stake in Amplify AI Powered Equity ETF by 1.1% in the 4th quarter. LPL Financial LLC now owns 201,879 shares of the company’s stock valued at $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.