Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Sees Significant Increase in Short Interest

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totaling 73,601 shares, a growth of 805.4% from the December 31st total of 8,129 shares. Based on an average daily volume of 98,238 shares, the short-interest ratio is presently 0.7 days. Currently, 0.9% of the shares of the stock are sold short. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily volume of 98,238 shares, the short-interest ratio is presently 0.7 days.

Alger AI Enablers & Adopters ETF Stock Up 0.7%

ALAI traded up $0.25 during trading on Wednesday, hitting $37.27. The company’s stock had a trading volume of 70,586 shares, compared to its average volume of 81,679. Alger AI Enablers & Adopters ETF has a 12 month low of $20.03 and a 12 month high of $39.26. The firm’s 50 day moving average price is $36.57 and its two-hundred day moving average price is $35.75. The stock has a market capitalization of $303.38 million, a price-to-earnings ratio of 29.71 and a beta of 1.95.

Alger AI Enablers & Adopters ETF Announces Dividend

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

Institutional Investors Weigh In On Alger AI Enablers & Adopters ETF

Several large investors have recently made changes to their positions in ALAI. Grove Bank & Trust acquired a new stake in shares of Alger AI Enablers & Adopters ETF during the third quarter worth $47,000. Farther Finance Advisors LLC increased its holdings in Alger AI Enablers & Adopters ETF by 198.4% during the 4th quarter. Farther Finance Advisors LLC now owns 1,283 shares of the company’s stock worth $46,000 after purchasing an additional 853 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Alger AI Enablers & Adopters ETF in the 3rd quarter valued at about $227,000. Brookwood Investment Group LLC bought a new stake in shares of Alger AI Enablers & Adopters ETF in the fourth quarter valued at about $225,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Alger AI Enablers & Adopters ETF in the fourth quarter valued at about $238,000.

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.