Short Interest in Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Increases By 235.9%

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 56,683 shares, a growth of 235.9% from the February 26th total of 16,873 shares. Based on an average daily volume of 108,668 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.7% of the shares of the company are short sold.

Alger AI Enablers & Adopters ETF Trading Down 3.8%

ALAI opened at $32.39 on Friday. The company has a market cap of $266.57 million, a price-to-earnings ratio of 29.71 and a beta of 1.95. The company’s 50 day moving average is $34.81 and its 200 day moving average is $36.18. Alger AI Enablers & Adopters ETF has a 12-month low of $20.03 and a 12-month high of $39.26.

Institutional Investors Weigh In On Alger AI Enablers & Adopters ETF

Hedge funds have recently modified their holdings of the business. Goldstein Advisors LLC bought a new position in Alger AI Enablers & Adopters ETF in the 3rd quarter worth $22,294,000. LPL Financial LLC grew its holdings in Alger AI Enablers & Adopters ETF by 52.3% during the fourth quarter. LPL Financial LLC now owns 975,523 shares of the company’s stock valued at $35,226,000 after purchasing an additional 334,901 shares during the period. Members Advisory Group LLC increased its position in Alger AI Enablers & Adopters ETF by 877.1% in the fourth quarter. Members Advisory Group LLC now owns 275,867 shares of the company’s stock worth $9,961,000 after buying an additional 247,635 shares in the last quarter. Mirae Asset Securities USA Inc. purchased a new stake in Alger AI Enablers & Adopters ETF in the third quarter worth about $8,438,000. Finally, Great Valley Advisor Group Inc. bought a new position in shares of Alger AI Enablers & Adopters ETF in the second quarter worth about $5,866,000.

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.