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

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) was the target of a significant drop in short interest in July. As of July 15th, there was short interest totaling 40,221 shares, a drop of 59.9% from the June 30th total of 100,394 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 114,399 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Investors Weigh In On Alger AI Enablers & Adopters ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kestra Advisory Services LLC acquired a new position in Alger AI Enablers & Adopters ETF during the 4th quarter worth approximately $33,000. Farther Finance Advisors LLC boosted its position in Alger AI Enablers & Adopters ETF by 198.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,283 shares of the company’s stock valued at $46,000 after buying an additional 853 shares in the last quarter. XML Financial LLC acquired a new stake in Alger AI Enablers & Adopters ETF in the first quarter valued at approximately $207,000. Osaic Holdings Inc. grew its stake in shares of Alger AI Enablers & Adopters ETF by 25.9% during the second quarter. Osaic Holdings Inc. now owns 6,886 shares of the company’s stock worth $212,000 after buying an additional 1,415 shares during the last quarter. Finally, Brookwood Investment Group LLC bought a new stake in shares of Alger AI Enablers & Adopters ETF during the fourth quarter worth $225,000.

Alger AI Enablers & Adopters ETF Price Performance

Alger AI Enablers & Adopters ETF stock opened at $42.33 on Monday. Alger AI Enablers & Adopters ETF has a 12-month low of $30.84 and a 12-month high of $46.88. The business’s 50-day moving average price is $44.34 and its two-hundred day moving average price is $39.08. The stock has a market cap of $444.46 million, a PE ratio of 29.71 and a beta of 1.89.

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.