Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) Stock Falls 1.6% – Time to Sell?

Shares of Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) dropped 1.6% on Friday. The company traded as low as $48.39 and last traded at $48.41. 1,414 shares traded hands during trading, a decline of 70% from the average daily volume of 4,691 shares. The stock had previously closed at $49.20.

Amplify AI Powered Equity ETF Stock Performance

The firm has a 50 day simple moving average of $49.78 and a two-hundred day simple moving average of $48.06. The firm has a market capitalization of $111.34 million, a P/E ratio of 26.62 and a beta of 1.17.

Institutional Investors Weigh In On Amplify AI Powered Equity ETF

An institutional investor recently raised its position in Amplify AI Powered Equity ETF stock. Wellington Altus USA Inc. increased its holdings in Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) by 161.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,750 shares of the company’s stock after buying an additional 1,700 shares during the period. Wellington Altus USA Inc. owned 0.14% of Amplify AI Powered Equity ETF worth $136,000 as of its most recent SEC filing.

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.