Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) Stock Jumps 0.8% – Still a Buy?

Amplify AI Powered Equity ETF (NYSEARCA:AIEQ)’s stock price traded up 0.8% on Monday. The company traded as high as $49.88 and last traded at $49.82. 2,635 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 4,919 shares. The stock had previously closed at $49.43.

Amplify AI Powered Equity ETF Price Performance

The firm has a market cap of $114.94 million, a PE ratio of 26.62 and a beta of 1.17. The company has a 50 day simple moving average of $50.17 and a 200-day simple moving average of $48.73.

Institutional Investors Weigh In On Amplify AI Powered Equity ETF

A hedge fund recently raised its position in Amplify AI Powered Equity ETF stock. Parallel Advisors LLC lifted its holdings in shares of Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) by 39.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,404 shares of the company’s stock after purchasing an additional 400 shares during the period. Parallel Advisors LLC owned about 0.06% of Amplify AI Powered Equity ETF worth $61,000 as of its most recent filing with the SEC.

About Amplify AI Powered Equity ETF

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.