NewEdge Advisors LLC Decreases Holdings in Alger AI Enablers & Adopters ETF $ALAI

NewEdge Advisors LLC decreased its stake in Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) by 21.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,786 shares of the company’s stock after selling 26,125 shares during the quarter. NewEdge Advisors LLC owned approximately 1.09% of Alger AI Enablers & Adopters ETF worth $3,231,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ALAI. Kestra Advisory Services LLC acquired a new position in shares of Alger AI Enablers & Adopters ETF during the 4th quarter worth about $33,000. Farther Finance Advisors LLC boosted its holdings 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 buying an additional 853 shares during the last quarter. XML Financial LLC acquired a new stake in Alger AI Enablers & Adopters ETF in the 1st quarter worth about $207,000. Osaic Holdings Inc. increased its stake in Alger AI Enablers & Adopters ETF by 25.9% during the 2nd quarter. Osaic Holdings Inc. now owns 6,886 shares of the company’s stock worth $212,000 after buying an additional 1,415 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in Alger AI Enablers & Adopters ETF during the 3rd quarter worth approximately $227,000.

Alger AI Enablers & Adopters ETF Price Performance

Shares of Alger AI Enablers & Adopters ETF stock opened at $45.67 on Thursday. The stock has a market capitalization of $517.90 million, a P/E ratio of 29.71 and a beta of 1.93. The business has a 50 day simple moving average of $44.19 and a two-hundred day simple moving average of $39.71. Alger AI Enablers & Adopters ETF has a 12 month low of $30.84 and a 12 month high of $46.88.

Alger AI Enablers & Adopters ETF 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.