Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Stock Short Interest Report for October

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 36,555 shares, an increase of 116.6% from the September 30th total of 16,878 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily volume of 62,204 shares, the short-interest ratio is presently 0.6 days.

Alger AI Enablers & Adopters ETF Price Performance

Shares of NYSEARCA:ALAI traded down $2.11 during midday trading on Friday, hitting $41.30. The company had a trading volume of 162,853 shares, compared to its average volume of 83,768. Alger AI Enablers & Adopters ETF has a twelve month low of $30.84 and a twelve month high of $48.36. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 29.71 and a beta of 1.89. The business’s 50-day simple moving average is $45.15 and its 200-day simple moving average is $41.11.

Institutional Trading of Alger AI Enablers & Adopters ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Private Advisor Group LLC raised its stake in shares of Alger AI Enablers & Adopters ETF by 143.9% in the 1st quarter. Private Advisor Group LLC now owns 46,842 shares of the company’s stock valued at $1,548,000 after acquiring an additional 27,639 shares during the period. Ocean Park Asset Management LLC purchased a new position in shares of Alger AI Enablers & Adopters ETF during the 2nd quarter worth approximately $6,405,000. Western Pacific Wealth Management LP boosted its position in shares of Alger AI Enablers & Adopters ETF by 354.6% during the 3rd quarter. Western Pacific Wealth Management LP now owns 49,169 shares of the company’s stock worth $2,285,000 after purchasing an additional 38,354 shares during the period. Sunrise Financial Services LLC boosted its position in shares of Alger AI Enablers & Adopters ETF by 11.1% during the 3rd quarter. Sunrise Financial Services LLC now owns 130,369 shares of the company’s stock worth $6,058,000 after purchasing an additional 13,036 shares during the period. Finally, Arkadios Wealth Advisors increased its holdings in Alger AI Enablers & Adopters ETF by 35.9% in the 1st quarter. Arkadios Wealth Advisors now owns 1,155,852 shares of the company’s stock valued at $38,189,000 after purchasing an additional 305,456 shares during the last quarter.

About Alger AI Enablers & Adopters ETF

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.