Short Interest in Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Decreases By 21.7%

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) saw a large decrease in short interest in the month of April. As of April 15th, there was short interest totaling 92,118 shares, a decrease of 21.7% from the March 31st total of 117,634 shares. Currently, 1.0% of the shares of the company are sold short. Based on an average trading volume of 140,084 shares, the days-to-cover ratio is presently 0.7 days.

Alger AI Enablers & Adopters ETF Trading Up 1.8%

Shares of ALAI stock traded up $0.70 on Friday, hitting $40.09. 70,320 shares of the stock were exchanged, compared to its average volume of 93,616. The firm has a market capitalization of $360.41 million, a PE ratio of 29.71 and a beta of 1.85. Alger AI Enablers & Adopters ETF has a one year low of $24.62 and a one year high of $40.14. The firm’s 50 day moving average is $35.35 and its two-hundred day moving average is $36.11.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC bought a new position in Alger AI Enablers & Adopters ETF in the 4th quarter worth about $33,000. Farther Finance Advisors LLC boosted its stake in Alger AI Enablers & Adopters ETF by 198.4% in the 4th quarter. Farther Finance Advisors LLC now owns 1,283 shares of the company’s stock worth $46,000 after purchasing an additional 853 shares during the period. XML Financial LLC bought a new position in Alger AI Enablers & Adopters ETF in the 1st quarter worth about $207,000. Osaic Holdings Inc. boosted its stake in Alger AI Enablers & Adopters ETF by 25.9% in the 2nd quarter. Osaic Holdings Inc. now owns 6,886 shares of the company’s stock worth $212,000 after purchasing an additional 1,415 shares during the period. Finally, Brookwood Investment Group LLC bought a new position in Alger AI Enablers & Adopters ETF in the 4th quarter worth about $225,000.

Alger AI Enablers & Adopters ETF Company Profile

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.