Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) Stock Falls 1.6% – Should You Sell?

Shares of Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) were down 1.6% during trading on Friday. The stock traded as low as $48.39 and last traded at $48.41. Approximately 1,414 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 4,691 shares. The stock had previously closed at $49.20.

Amplify AI Powered Equity ETF Trading Down 1.6%

The business’s fifty day moving average price is $49.78 and its 200 day moving average price is $48.06. The company has a market capitalization of $111.34 million, a P/E ratio of 26.62 and a beta of 1.17.

Institutional Investors Weigh In On Amplify AI Powered Equity ETF

An institutional investor recently raised its position in Amplify AI Powered Equity ETF stock. Parallel Advisors LLC grew its holdings in Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) by 39.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,404 shares of the company’s stock after buying an additional 400 shares during the quarter. Parallel Advisors LLC owned approximately 0.06% of Amplify AI Powered Equity ETF worth $61,000 at the end of the most recent reporting period.

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.