Short Interest in Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Decreases By 38.7%

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) was the recipient of a large decrease in short interest during the month of April. As of April 30th, there was short interest totaling 56,487 shares, a decrease of 38.7% from the April 15th total of 92,118 shares. Based on an average daily volume of 86,925 shares, the short-interest ratio is currently 0.6 days. Approximately 0.6% of the shares of the company are short sold.

Alger AI Enablers & Adopters ETF Stock Down 1.6%

NYSEARCA ALAI traded down $0.70 on Friday, hitting $42.70. The stock had a trading volume of 43,922 shares, compared to its average volume of 89,319. Alger AI Enablers & Adopters ETF has a one year low of $26.87 and a one year high of $43.64. The stock has a market cap of $384.73 million, a price-to-earnings ratio of 29.71 and a beta of 1.84. The company’s 50-day moving average is $36.75 and its two-hundred day moving average is $36.41.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Arkadios Wealth Advisors grew its position in Alger AI Enablers & Adopters ETF by 31.5% in the 3rd quarter. Arkadios Wealth Advisors now owns 716,904 shares of the company’s stock worth $26,884,000 after purchasing an additional 171,705 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in Alger AI Enablers & Adopters ETF by 134.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 116,966 shares of the company’s stock worth $4,224,000 after purchasing an additional 67,042 shares during the last quarter. Apollon Financial LLC grew its position in Alger AI Enablers & Adopters ETF by 88.1% in the 4th quarter. Apollon Financial LLC now owns 52,013 shares of the company’s stock worth $1,878,000 after purchasing an additional 24,362 shares during the last quarter. Orion Porfolio Solutions LLC boosted its holdings in shares of Alger AI Enablers & Adopters ETF by 249.2% in the third quarter. Orion Porfolio Solutions LLC now owns 184,629 shares of the company’s stock valued at $6,924,000 after acquiring an additional 131,752 shares in the last quarter. Finally, Axxcess Wealth Management LLC bought a new position in shares of Alger AI Enablers & Adopters ETF in the third quarter valued at approximately $1,135,000.

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.