Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) Sees Significant Growth in Short Interest

Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) saw a significant increase in short interest in June. As of June 15th, there was short interest totaling 3,913 shares, an increase of 359.3% from the May 31st total of 852 shares. Based on an average daily volume of 4,899 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.2% of the company’s stock are short sold.

Institutional Investors Weigh In On Amplify AI Powered Equity ETF

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC boosted its stake in Amplify AI Powered Equity ETF by 39.8% in the first quarter. Parallel Advisors LLC now owns 1,404 shares of the company’s stock valued at $61,000 after acquiring an additional 400 shares in the last quarter. Integrated Wealth Concepts LLC increased its position in shares of Amplify AI Powered Equity ETF by 2.6% during the third quarter. Integrated Wealth Concepts LLC now owns 17,179 shares of the company’s stock worth $771,000 after purchasing an additional 442 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Amplify AI Powered Equity ETF in the 4th quarter valued at about $38,000. Royal Bank of Canada lifted its holdings in shares of Amplify AI Powered Equity ETF by 290.3% in the 4th quarter. Royal Bank of Canada now owns 2,373 shares of the company’s stock valued at $107,000 after purchasing an additional 1,765 shares during the last quarter. Finally, LPL Financial LLC boosted its position in shares of Amplify AI Powered Equity ETF by 1.1% in the 4th quarter. LPL Financial LLC now owns 201,879 shares of the company’s stock valued at $9,114,000 after purchasing an additional 2,261 shares during the period.

Amplify AI Powered Equity ETF Stock Performance

Shares of NYSEARCA:AIEQ opened at $48.59 on Monday. The firm has a 50 day simple moving average of $48.75 and a 200-day simple moving average of $46.40. Amplify AI Powered Equity ETF has a twelve month low of $41.82 and a twelve month high of $50.31. The company has a market capitalization of $121.48 million, a PE ratio of 26.62 and a beta of 1.17.

Amplify AI Powered Equity ETF Company Profile

The AI Powered Equity ETF (AIEQ) is an exchange-traded fund that is based on the S&P Total Market index. The fund is an actively-managed fund of US stocks selected by a proprietary, quantitative model that incorporates artificial intelligence (AI). AIEQ was launched on Oct 17, 2017 and is managed by ETF Managers Group.