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)’s share price crossed 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.

Alger AI Enablers & Adopters ETF Stock Down 2.5%

The firm has a market capitalization of $2.52 billion, a PE ratio of 29.71 and a beta of 1.89. The company has a 50-day moving average of $45.06 and a 200 day moving average of $41.13.

Institutional Trading of Alger AI Enablers & Adopters ETF

A number of large investors have recently modified their holdings of the business. Arkadios Wealth Advisors increased its holdings in shares of Alger AI Enablers & Adopters ETF by 35.9% in the 1st quarter. Arkadios Wealth Advisors now owns 1,155,852 shares of the company’s stock worth $38,189,000 after buying an additional 305,456 shares during the last quarter. Commonwealth Equity Services LLC purchased a new stake in shares of Alger AI Enablers & Adopters ETF during the 3rd quarter valued at $8,226,000. Royal Bank of Canada raised its position in shares of Alger AI Enablers & Adopters ETF by 3.8% during the 1st quarter. Royal Bank of Canada now owns 158,006 shares of the company’s stock valued at $5,221,000 after buying an additional 5,779 shares in the last quarter. Ocean Park Asset Management LLC purchased a new stake in shares of Alger AI Enablers & Adopters ETF during the 2nd quarter valued at $6,405,000. Finally, Sunrise Financial Services LLC lifted its holdings in shares of Alger AI Enablers & Adopters ETF by 11.1% during the 3rd quarter. Sunrise Financial Services LLC now owns 130,369 shares of the company’s stock worth $6,058,000 after acquiring an additional 13,036 shares during the last quarter.

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.