Short Interest in Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Declines By 69.4%

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totaling 8,129 shares, a decrease of 69.4% from the December 15th total of 26,581 shares. Based on an average daily trading volume, of 135,380 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the company’s shares are short sold. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 135,380 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of Alger AI Enablers & Adopters ETF

Hedge funds have recently bought and sold shares of the company. Grove Bank & Trust bought a new position in Alger AI Enablers & Adopters ETF in the 3rd quarter worth approximately $47,000. Integrated Wealth Concepts LLC acquired a new position in shares of Alger AI Enablers & Adopters ETF during the third quarter valued at $227,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Alger AI Enablers & Adopters ETF during the fourth quarter valued at $238,000. Osaic Holdings Inc. raised its stake in shares of Alger AI Enablers & Adopters ETF by 25.9% during the second quarter. Osaic Holdings Inc. now owns 6,886 shares of the company’s stock valued at $212,000 after purchasing an additional 1,415 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new stake in Alger AI Enablers & Adopters ETF in the third quarter worth about $271,000.

Alger AI Enablers & Adopters ETF Stock Down 2.0%

Shares of ALAI traded down $0.76 during mid-day trading on Wednesday, hitting $36.56. The company had a trading volume of 142,159 shares, compared to its average volume of 100,862. Alger AI Enablers & Adopters ETF has a 1-year low of $20.03 and a 1-year high of $39.26. The business’s 50-day simple moving average is $36.59 and its 200-day simple moving average is $35.32. The stock has a market cap of $294.67 million, a PE ratio of 29.71 and a beta of 1.95.

Alger AI Enablers & Adopters ETF Dividend Announcement

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

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.