Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Stock Breaks Below Two Hundred Day Moving Average – Here’s What Happened

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) passed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $41.13 and traded as low as $40.13. Alger AI Enablers & Adopters ETF shares last traded at $40.28, with a volume of 73,069 shares trading hands.

Alger AI Enablers & Adopters ETF Trading Down 2.5%

The company has a market capitalization of $2.52 billion, a PE ratio of 29.71 and a beta of 1.89. The stock has a fifty day moving average of $45.06 and a two-hundred day moving average of $41.13.

Institutional Investors Weigh In On Alger AI Enablers & Adopters ETF

Institutional investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC bought a new stake in Alger AI Enablers & Adopters ETF in the 3rd quarter worth $289,000. Commonwealth Equity Services LLC purchased a new position in shares of Alger AI Enablers & Adopters ETF in the third quarter valued at about $8,226,000. Trek Financial LLC raised its stake in shares of Alger AI Enablers & Adopters ETF by 60.1% during the third quarter. Trek Financial LLC now owns 11,569 shares of the company’s stock valued at $538,000 after acquiring an additional 4,343 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Alger AI Enablers & Adopters ETF during the third quarter valued at about $996,000. Finally, Sunrise Financial Services LLC raised its stake in shares of Alger AI Enablers & Adopters ETF by 11.1% during the third quarter. Sunrise Financial Services LLC now owns 130,369 shares of the company’s stock valued at $6,058,000 after acquiring an additional 13,036 shares during the last quarter.

Alger AI Enablers & Adopters ETF Company 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.