Alger AI Enablers & Adopters ETF $ALAI Stock Bought by Grove Bank & Trust

Grove Bank & Trust lifted its holdings in Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) by 2,491.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,751 shares of the company’s stock after acquiring an additional 31,487 shares during the period. Grove Bank & Trust’s holdings in Alger AI Enablers & Adopters ETF were worth $1,522,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Farther Finance Advisors LLC boosted its position in Alger AI Enablers & Adopters ETF by 160.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,343 shares of the company’s stock worth $155,000 after purchasing an additional 2,060 shares during the period. XML Financial LLC acquired a new stake in Alger AI Enablers & Adopters ETF in the 1st quarter valued at $207,000. Sankala Group LLC purchased a new position in Alger AI Enablers & Adopters ETF in the fourth quarter valued at about $333,000. Integrated Wealth Concepts LLC raised its position in Alger AI Enablers & Adopters ETF by 5.9% in the second quarter. Integrated Wealth Concepts LLC now owns 10,125 shares of the company’s stock valued at $462,000 after purchasing an additional 565 shares during the period. Finally, Rubicon Advisors GP acquired a new position in shares of Alger AI Enablers & Adopters ETF during the fourth quarter worth about $366,000.

Alger AI Enablers & Adopters ETF Stock Down 2.4%

Shares of NYSEARCA ALAI traded down $1.13 on Thursday, hitting $46.49. The company had a trading volume of 61,085 shares, compared to its average volume of 84,627. Alger AI Enablers & Adopters ETF has a 12-month low of $30.84 and a 12-month high of $48.36. The firm has a market capitalization of $1.25 billion, a P/E ratio of 29.71 and a beta of 1.89. The business has a 50 day moving average of $45.38 and a two-hundred day moving average of $42.76.

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.