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

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 73,601 shares, a growth of 805.4% from the December 31st total of 8,129 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily volume of 98,238 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily volume of 98,238 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.9% of the shares of the company are sold short.

Institutional Investors Weigh In On Alger AI Enablers & Adopters ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC boosted its position in Alger AI Enablers & Adopters ETF by 113.3% in the third quarter. Commonwealth Equity Services LLC now owns 146,058 shares of the company’s stock worth $5,477,000 after purchasing an additional 77,591 shares during the last quarter. Arkadios Wealth Advisors lifted its stake in shares of Alger AI Enablers & Adopters ETF by 31.5% in the 3rd quarter. Arkadios Wealth Advisors now owns 716,904 shares of the company’s stock valued at $26,884,000 after purchasing an additional 171,705 shares during the last quarter. Goldstein Advisors LLC purchased a new position in shares of Alger AI Enablers & Adopters ETF during the third quarter valued at approximately $22,294,000. Mirae Asset Securities USA Inc. bought a new position in Alger AI Enablers & Adopters ETF in the 3rd quarter worth about $8,438,000. Finally, Orion Porfolio Solutions LLC bought a new position in Alger AI Enablers & Adopters ETF during the 2nd quarter worth about $1,631,000.

Alger AI Enablers & Adopters ETF Stock Up 0.7%

ALAI traded up $0.25 on Wednesday, hitting $37.27. The company’s stock had a trading volume of 70,586 shares, compared to its average volume of 81,679. Alger AI Enablers & Adopters ETF has a 12 month low of $20.03 and a 12 month high of $39.26. The firm has a market cap of $303.38 million, a P/E ratio of 29.71 and a beta of 1.95. The company’s 50 day simple moving average is $36.57 and its 200-day simple moving average is $35.75.

Alger AI Enablers & Adopters ETF Announces Dividend

The business also recently announced an annual dividend, which was paid on Wednesday, December 31st. Investors of record on Thursday, December 18th were given a $0.5411 dividend. 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.