Short Interest in Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Declines By 36.0%

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) saw a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 25,732 shares, a decrease of 36.0% from the July 15th total of 40,221 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 110,311 shares, the short-interest ratio is currently 0.2 days.

Institutional Investors Weigh In On Alger AI Enablers & Adopters ETF

Large investors have recently made changes to their positions in the company. Kestra Advisory Services LLC bought a new stake in Alger AI Enablers & Adopters ETF in the fourth quarter worth approximately $33,000. Farther Finance Advisors LLC raised its position in shares of Alger AI Enablers & Adopters ETF by 198.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,283 shares of the company’s stock valued at $46,000 after purchasing an additional 853 shares during the period. XML Financial LLC acquired a new position in Alger AI Enablers & Adopters ETF in the 1st quarter valued at $207,000. Osaic Holdings Inc. raised its holdings in Alger AI Enablers & Adopters ETF by 25.9% in the 2nd quarter. Osaic Holdings Inc. now owns 6,886 shares of the company’s stock worth $212,000 after acquiring an additional 1,415 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new position in Alger AI Enablers & Adopters ETF during the 3rd quarter worth $227,000.

Alger AI Enablers & Adopters ETF Price Performance

Alger AI Enablers & Adopters ETF stock traded down $0.38 during trading hours on Wednesday, hitting $44.46. The company had a trading volume of 22,725 shares, compared to its average volume of 88,989. Alger AI Enablers & Adopters ETF has a fifty-two week low of $30.84 and a fifty-two week high of $46.88. The firm has a market capitalization of $504.18 million, a P/E ratio of 29.71 and a beta of 1.93. The firm’s fifty day moving average is $44.34 and its 200-day moving average is $39.96.

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.