Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Stock Short Interest Climbs 1,385.9%

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totaling 653,018 shares, an increase of 1,385.9% from the August 31st total of 43,947 shares. Based on an average daily volume of 47,881 shares, the short-interest ratio is presently 13.6 days. Currently, 2.3% of the shares of the company are short sold.

Alger AI Enablers & Adopters ETF Stock Up 0.3%

Shares of ALAI traded up $0.16 during mid-day trading on Thursday, hitting $46.86. 89,452 shares of the company’s stock were exchanged, compared to its average volume of 84,749. Alger AI Enablers & Adopters ETF has a 52 week low of $30.84 and a 52 week high of $47.46. The stock’s 50-day simple moving average is $44.61 and its 200-day simple moving average is $41.95. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 29.71 and a beta of 1.92.

Hedge Funds Weigh In On Alger AI Enablers & Adopters ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XML Financial LLC lifted its position in shares of Alger AI Enablers & Adopters ETF by 5.5% during the 2nd quarter. XML Financial LLC now owns 6,625 shares of the company’s stock valued at $302,000 after acquiring an additional 345 shares during the period. Integrated Wealth Concepts LLC lifted its position in Alger AI Enablers & Adopters ETF by 5.9% during the second quarter. Integrated Wealth Concepts LLC now owns 10,125 shares of the company’s stock worth $462,000 after purchasing an additional 565 shares during the period. CFO Capital Management LLC grew its stake in Alger AI Enablers & Adopters ETF by 3.8% during the first quarter. CFO Capital Management LLC now owns 35,036 shares of the company’s stock worth $1,158,000 after buying an additional 1,285 shares in the last quarter. PCG Wealth Advisors LLC grew its stake in Alger AI Enablers & Adopters ETF by 4.3% during the second quarter. PCG Wealth Advisors LLC now owns 35,845 shares of the company’s stock worth $1,636,000 after buying an additional 1,472 shares in the last quarter. Finally, Whipplewood Advisors LLC increased its holdings in Alger AI Enablers & Adopters ETF by 4.0% in the 1st quarter. Whipplewood Advisors LLC now owns 50,556 shares of the company’s stock valued at $1,670,000 after buying an additional 1,926 shares during the period.

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.