Short Interest in Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Drops By 27.6%

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) was the target of a significant drop in short interest during the month of December. As of December 15th, there was short interest totaling 26,581 shares, a drop of 27.6% from the November 30th total of 36,723 shares. Based on an average trading volume of 61,317 shares, the short-interest ratio is currently 0.4 days. Approximately 0.3% of the company’s shares are sold short. Approximately 0.3% of the company’s shares are sold short. Based on an average trading volume of 61,317 shares, the short-interest ratio is currently 0.4 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Arkadios Wealth Advisors boosted its stake in shares of Alger AI Enablers & Adopters ETF by 31.5% in the 3rd quarter. Arkadios Wealth Advisors now owns 716,904 shares of the company’s stock worth $26,884,000 after buying an additional 171,705 shares during the last quarter. Goldstein Advisors LLC purchased a new stake in shares of Alger AI Enablers & Adopters ETF in the third quarter worth about $22,294,000. Mirae Asset Securities USA Inc. purchased a new position in shares of Alger AI Enablers & Adopters ETF during the 3rd quarter valued at $8,438,000. Great Valley Advisor Group Inc. purchased a new position in shares of Alger AI Enablers & Adopters ETF during the second quarter worth about $5,866,000. Finally, Orion Porfolio Solutions LLC increased its stake in Alger AI Enablers & Adopters ETF by 249.2% in the third quarter. Orion Porfolio Solutions LLC now owns 184,629 shares of the company’s stock valued at $6,924,000 after acquiring an additional 131,752 shares during the last quarter.

Alger AI Enablers & Adopters ETF Price Performance

ALAI traded down $0.33 on Wednesday, reaching $36.11. The company’s stock had a trading volume of 166,818 shares, compared to its average volume of 63,438. Alger AI Enablers & Adopters ETF has a 1 year low of $20.03 and a 1 year high of $39.26. The business’s 50 day moving average is $36.83 and its 200 day moving average is $34.82. The stock has a market cap of $280.94 million, a price-to-earnings ratio of 29.71 and a beta of 1.95.

Alger AI Enablers & Adopters ETF Announces Dividend

The company also recently announced an annual dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Thursday, December 18th will be paid a dividend of $0.5411 per share. This represents a yield of 151.0%. The ex-dividend date of this dividend is Thursday, December 18th.

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.