Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Stock Short Interest Jumps 116.6%

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 36,555 shares, an increase of 116.6% from the September 30th total of 16,878 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 62,204 shares, the short-interest ratio is presently 0.6 days.

Institutional Investors Weigh In On Alger AI Enablers & Adopters ETF

A number of institutional investors have recently added to or reduced their stakes in ALAI. Trek Financial LLC lifted its position in Alger AI Enablers & Adopters ETF by 60.1% during the third quarter. Trek Financial LLC now owns 11,569 shares of the company’s stock valued at $538,000 after purchasing an additional 4,343 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of Alger AI Enablers & Adopters ETF during the 3rd quarter worth about $996,000. Sunrise Financial Services LLC lifted its position in Alger AI Enablers & Adopters ETF by 11.1% in the third quarter. Sunrise Financial Services LLC now owns 130,369 shares of the company’s stock valued at $6,058,000 after buying an additional 13,036 shares during the last quarter. Western Pacific Wealth Management LP grew its holdings in Alger AI Enablers & Adopters ETF by 354.6% during the 3rd quarter. Western Pacific Wealth Management LP now owns 49,169 shares of the company’s stock worth $2,285,000 after acquiring an additional 38,354 shares in the last quarter. Finally, WealthBridge Capital Management LLC acquired a new stake in shares of Alger AI Enablers & Adopters ETF in the third quarter valued at approximately $248,000.

Alger AI Enablers & Adopters ETF Price Performance

Alger AI Enablers & Adopters ETF stock traded down $2.11 during midday trading on Friday, hitting $41.30. 162,853 shares of the company were exchanged, compared to its average volume of 83,768. The company’s fifty day moving average price is $45.15 and its 200-day moving average price is $41.11. Alger AI Enablers & Adopters ETF has a fifty-two week low of $30.84 and a fifty-two week high of $48.36. The company has a market cap of $2.58 billion, a PE ratio of 29.71 and a beta of 1.89.

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.