Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) Sees Large Drop in Short Interest

Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totaling 226 shares, a drop of 13.7% from the March 15th total of 262 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 5,986 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AIEQ. Royal Bank of Canada raised its position in Amplify AI Powered Equity ETF by 290.3% during the fourth quarter. Royal Bank of Canada now owns 2,373 shares of the company’s stock valued at $107,000 after purchasing an additional 1,765 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Amplify AI Powered Equity ETF in the 2nd quarter worth about $124,000. Citadel Advisors LLC boosted its holdings in shares of Amplify AI Powered Equity ETF by 113.2% in the 3rd quarter. Citadel Advisors LLC now owns 14,677 shares of the company’s stock worth $659,000 after purchasing an additional 7,793 shares in the last quarter. Integrated Wealth Concepts LLC increased its position in shares of Amplify AI Powered Equity ETF by 2.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 17,179 shares of the company’s stock valued at $771,000 after purchasing an additional 442 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new position in shares of Amplify AI Powered Equity ETF during the 4th quarter valued at about $38,000.

Amplify AI Powered Equity ETF Price Performance

AIEQ stock traded up $0.61 during midday trading on Friday, reaching $47.31. The company had a trading volume of 1,738 shares, compared to its average volume of 4,829. Amplify AI Powered Equity ETF has a 1 year low of $33.96 and a 1 year high of $47.31. The company has a market capitalization of $118.28 million, a P/E ratio of 26.62 and a beta of 1.16. The firm has a 50-day moving average price of $44.82 and a 200-day moving average price of $45.09.

Amplify AI Powered Equity ETF Company Profile

The AI Powered Equity ETF (AIEQ) is an exchange-traded fund that is based on the S&P Total Market index. The fund is an actively-managed fund of US stocks selected by a proprietary, quantitative model that incorporates artificial intelligence (AI). AIEQ was launched on Oct 17, 2017 and is managed by ETF Managers Group.