Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Stock Short Interest Climbs 1,385.9%

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 653,018 shares, a growth of 1,385.9% from the August 31st total of 43,947 shares. Approximately 2.3% of the shares of the stock are sold short. Based on an average trading volume of 47,881 shares, the days-to-cover ratio is presently 13.6 days.

Alger AI Enablers & Adopters ETF Price Performance

ALAI traded up $0.16 during trading on Thursday, hitting $46.86. 89,452 shares of the stock traded hands, compared to its average volume of 84,749. The business has a 50 day moving average price of $44.61 and a 200 day moving average price of $41.95. Alger AI Enablers & Adopters ETF has a twelve month low of $30.84 and a twelve month high of $47.46. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 29.71 and a beta of 1.92.

Hedge Funds Weigh In On Alger AI Enablers & Adopters ETF

Several hedge funds and other institutional investors have recently modified their holdings of the business. XML Financial LLC bought a new stake in shares of Alger AI Enablers & Adopters ETF during the 1st quarter worth $207,000. Sankala Group LLC acquired a new position in Alger AI Enablers & Adopters ETF during the fourth quarter worth about $333,000. Rubicon Advisors GP bought a new position in shares of Alger AI Enablers & Adopters ETF in the fourth quarter worth about $366,000. Integrated Wealth Concepts LLC lifted its holdings in shares of Alger AI Enablers & Adopters ETF by 5.9% in the second quarter. Integrated Wealth Concepts LLC now owns 10,125 shares of the company’s stock worth $462,000 after acquiring an additional 565 shares during the last quarter. Finally, Thoroughbred Financial Services LLC boosted its stake in shares of Alger AI Enablers & Adopters ETF by 17.1% in the 4th 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 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.