Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Short Interest Update

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 43,947 shares, a growth of 58.9% from the August 15th total of 27,651 shares. Based on an average daily trading volume, of 52,860 shares, the short-interest ratio is presently 0.8 days. Approximately 0.4% of the company’s shares are short sold.

Alger AI Enablers & Adopters ETF Price Performance

ALAI stock traded up $0.72 during midday trading on Thursday, reaching $44.98. 23,804 shares of the company’s stock traded hands, compared to its average volume of 84,762. The company has a market capitalization of $510.11 million, a P/E ratio of 29.71 and a beta of 1.92. Alger AI Enablers & Adopters ETF has a fifty-two week low of $30.84 and a fifty-two week high of $46.88. The business has a 50-day moving average price of $44.37 and a two-hundred day moving average price of $41.42.

Hedge Funds Weigh In On Alger AI Enablers & Adopters ETF

Several hedge funds and other institutional investors have recently made changes to their positions in ALAI. Arkadios Wealth Advisors lifted its position in Alger AI Enablers & Adopters ETF by 35.9% during the 1st quarter. Arkadios Wealth Advisors now owns 1,155,852 shares of the company’s stock worth $38,189,000 after acquiring an additional 305,456 shares in the last quarter. Ocean Park Asset Management LLC acquired a new stake in Alger AI Enablers & Adopters ETF in the second quarter valued at approximately $6,405,000. CFO Capital Management LLC purchased a new stake in shares of Alger AI Enablers & Adopters ETF during the fourth quarter valued at approximately $1,219,000. Private Advisor Group LLC raised its stake in shares of Alger AI Enablers & Adopters ETF by 143.9% during the first quarter. Private Advisor Group LLC now owns 46,842 shares of the company’s stock valued at $1,548,000 after purchasing an additional 27,639 shares during the period. Finally, Berbice Capital Management LLC lifted its position in shares of Alger AI Enablers & Adopters ETF by 119.8% during the fourth quarter. Berbice Capital Management LLC now owns 34,954 shares of the company’s stock worth $1,262,000 after purchasing an additional 19,052 shares in the last quarter.

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.