Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Short Interest Down 60.1% in February

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) was the target of a significant decline in short interest in February. As of February 13th, there was short interest totaling 32,657 shares, a decline of 60.1% from the January 29th total of 81,937 shares. Approximately 0.4% of the company’s stock are sold short. Based on an average daily volume of 94,519 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 94,519 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.4% of the company’s stock are sold short.

Institutional Trading of Alger AI Enablers & Adopters ETF

Several institutional investors and hedge funds have recently bought and sold shares of ALAI. LPL Financial LLC grew its stake in Alger AI Enablers & Adopters ETF by 52.3% in 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 in the last quarter. Arkadios Wealth Advisors boosted its holdings in shares of Alger AI Enablers & Adopters ETF by 18.6% in the 4th quarter. Arkadios Wealth Advisors now owns 850,396 shares of the company’s stock valued at $30,708,000 after buying an additional 133,492 shares during the last quarter. Goldstein Advisors LLC grew its stake in shares of Alger AI Enablers & Adopters ETF by 2.4% in the fourth quarter. Goldstein Advisors LLC now owns 608,647 shares of the company’s stock valued at $21,978,000 after buying an additional 14,137 shares in the last quarter. Members Advisory Group LLC increased its holdings in Alger AI Enablers & Adopters ETF by 877.1% during 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 during the last quarter. Finally, Mirae Asset Securities USA Inc. acquired a new position in Alger AI Enablers & Adopters ETF during the third quarter worth $8,438,000.

Alger AI Enablers & Adopters ETF Stock Down 1.9%

ALAI traded down $0.67 during trading hours on Friday, hitting $34.21. 74,775 shares of the company’s stock were exchanged, compared to its average volume of 84,433. The stock has a market cap of $281.55 million, a price-to-earnings ratio of 29.71 and a beta of 1.95. Alger AI Enablers & Adopters ETF has a 1-year low of $20.03 and a 1-year high of $39.26. The stock’s 50-day moving average is $35.96 and its two-hundred day moving average is $36.14.

Alger AI Enablers & Adopters ETF Announces Dividend

The firm also recently disclosed an annual dividend, which was paid on Wednesday, December 31st. Stockholders of record on Thursday, December 18th were paid a dividend of $0.5411 per share. This represents a dividend yield of 151.0%. The ex-dividend date was Thursday, December 18th.

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.