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

Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) was the recipient of a significant increase in short interest in the month of June. As of June 15th, there was short interest totaling 3,913 shares, an increase of 359.3% from the May 31st total of 852 shares. Based on an average daily volume of 4,899 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.2% of the company’s shares are sold short.

Institutional Trading of Amplify AI Powered Equity ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC raised its position in shares of Amplify AI Powered Equity ETF by 39.8% in the 1st quarter. Parallel Advisors LLC now owns 1,404 shares of the company’s stock worth $61,000 after buying an additional 400 shares during the period. Royal Bank of Canada grew 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 acquiring an additional 1,765 shares during the period. Kestra Advisory Services LLC acquired a new stake in Amplify AI Powered Equity ETF during the fourth quarter worth about $38,000. LPL Financial LLC increased its stake in Amplify AI Powered Equity ETF by 1.1% during the fourth quarter. LPL Financial LLC now owns 201,879 shares of the company’s stock worth $9,114,000 after acquiring an additional 2,261 shares during the last quarter. Finally, Integrated Wealth Concepts LLC raised its holdings in shares of Amplify AI Powered Equity ETF by 2.6% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 17,179 shares of the company’s stock worth $771,000 after purchasing an additional 442 shares during the period.

Amplify AI Powered Equity ETF Price Performance

AIEQ stock traded up $0.03 on Friday, hitting $48.59. 7,815 shares of the company were exchanged, compared to its average volume of 4,875. The stock has a market capitalization of $121.48 million, a price-to-earnings ratio of 26.62 and a beta of 1.17. Amplify AI Powered Equity ETF has a twelve month low of $41.82 and a twelve month high of $50.31. The business’s fifty day moving average is $48.75 and its two-hundred day moving average is $46.39.

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.