Short Interest in Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Declines By 69.4%

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) was the target of a large decline in short interest in the month of December. As of December 31st, there was short interest totaling 8,129 shares, a decline of 69.4% from the December 15th total of 26,581 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 135,380 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily trading volume, of 135,380 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the shares of the company are short sold.

Hedge Funds Weigh In On Alger AI Enablers & Adopters ETF

Several large investors have recently made changes to their positions in ALAI. Wealth Effects LLC acquired a new stake in Alger AI Enablers & Adopters ETF during the second quarter valued at $259,000. Aurora Private Wealth Inc. purchased a new stake in shares of Alger AI Enablers & Adopters ETF during the 2nd quarter worth about $947,000. Onyx Bridge Wealth Group LLC boosted its stake in shares of Alger AI Enablers & Adopters ETF by 2.6% during the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 80,721 shares of the company’s stock worth $2,490,000 after acquiring an additional 2,012 shares in the last quarter. Whipplewood Advisors LLC grew its position in shares of Alger AI Enablers & Adopters ETF by 39,302.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 39,402 shares of the company’s stock valued at $1,216,000 after acquiring an additional 39,302 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of Alger AI Enablers & Adopters ETF by 24.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 14,113 shares of the company’s stock valued at $435,000 after purchasing an additional 2,768 shares in the last quarter.

Alger AI Enablers & Adopters ETF Stock Performance

Alger AI Enablers & Adopters ETF stock traded up $0.51 during midday trading on Thursday, hitting $37.07. 74,267 shares of the company were exchanged, compared to its average volume of 98,197. The firm has a market capitalization of $298.78 million, a PE ratio of 29.71 and a beta of 1.95. Alger AI Enablers & Adopters ETF has a fifty-two week low of $20.03 and a fifty-two week high of $39.26. The business has a fifty day simple moving average of $36.57 and a two-hundred day simple moving average of $35.34.

Alger AI Enablers & Adopters ETF Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Wednesday, December 31st. Stockholders of record on Thursday, December 18th were paid a dividend of $0.5411 per share. The ex-dividend date of this dividend was Thursday, December 18th. This represents a dividend yield of 151.0%.

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.