Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Sees Significant Growth in Short Interest

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) saw a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 73,601 shares, an increase of 805.4% from the December 31st total of 8,129 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average daily trading volume, of 98,238 shares, the short-interest ratio is presently 0.7 days. Based on an average daily trading volume, of 98,238 shares, the short-interest ratio is presently 0.7 days. Approximately 0.9% of the company’s stock are sold short.

Alger AI Enablers & Adopters ETF Trading Down 1.5%

ALAI stock traded down $0.55 during trading on Thursday, reaching $36.72. 97,021 shares of the stock were exchanged, compared to its average volume of 82,512. The firm’s 50 day moving average is $36.61 and its 200 day moving average is $35.76. The firm has a market cap of $298.90 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.

Alger AI Enablers & Adopters ETF Announces Dividend

The company also recently announced an annual dividend, which was paid on Wednesday, December 31st. Investors of record on Thursday, December 18th were issued a $0.5411 dividend. This represents a dividend yield of 151.0%. The ex-dividend date was Thursday, December 18th.

Institutional Trading of Alger AI Enablers & Adopters ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. Goldstein Advisors LLC bought a new stake in Alger AI Enablers & Adopters ETF during the third quarter worth $22,294,000. Arkadios Wealth Advisors purchased a new position in Alger AI Enablers & Adopters ETF during the 2nd quarter worth $16,819,000. Members Advisory Group LLC grew its stake in shares of Alger AI Enablers & Adopters ETF by 877.1% in the 4th quarter. Members Advisory Group LLC now owns 275,867 shares of the company’s stock worth $9,961,000 after acquiring an additional 247,635 shares in the last quarter. Mirae Asset Securities USA Inc. purchased a new stake in shares of Alger AI Enablers & Adopters ETF in the third quarter valued at about $8,438,000. Finally, Great Valley Advisor Group Inc. purchased a new stake in shares of Alger AI Enablers & Adopters ETF in the second quarter valued at about $5,866,000.

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.