Members Advisory Group LLC Acquires New Stake in Alger AI Enablers & Adopters ETF $ALAI

Members Advisory Group LLC bought a new position in shares of Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 28,232 shares of the company’s stock, valued at approximately $1,059,000. Alger AI Enablers & Adopters ETF makes up approximately 0.4% of Members Advisory Group LLC’s investment portfolio, making the stock its 28th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALAI. Orion Porfolio Solutions LLC bought a new stake in shares of Alger AI Enablers & Adopters ETF in the second quarter valued at about $1,631,000. Goldstein Advisors LLC bought a new position in shares of Alger AI Enablers & Adopters ETF during the third quarter worth about $22,294,000. Apollon Financial LLC acquired a new stake in Alger AI Enablers & Adopters ETF in the 3rd quarter valued at approximately $1,037,000. Envestnet Asset Management Inc. raised its position in Alger AI Enablers & Adopters ETF by 24.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 14,113 shares of the company’s stock valued at $435,000 after buying an additional 2,768 shares during the last quarter. Finally, Wealth Effects LLC bought a new stake in Alger AI Enablers & Adopters ETF in the 2nd quarter valued at approximately $259,000.

Alger AI Enablers & Adopters ETF Stock Up 1.8%

NYSEARCA:ALAI opened at $36.95 on Tuesday. The company has a market cap of $297.82 million, a P/E ratio of 29.71 and a beta of 1.95. Alger AI Enablers & Adopters ETF has a twelve month low of $20.03 and a twelve month high of $39.26. The business has a 50 day moving average price of $36.76 and a two-hundred day moving average price of $35.02.

Alger AI Enablers & Adopters ETF Announces Dividend

The firm also recently announced 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. The ex-dividend date was Thursday, December 18th. This represents a yield of 151.0%.

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.