Commonwealth Equity Services LLC Purchases 177,012 Shares of Alger AI Enablers & Adopters ETF $ALAI

Commonwealth Equity Services LLC acquired a new position in shares of Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 177,012 shares of the company’s stock, valued at approximately $8,226,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Arkadios Wealth Advisors lifted its stake in Alger AI Enablers & Adopters ETF by 35.9% in the first quarter. Arkadios Wealth Advisors now owns 1,155,852 shares of the company’s stock valued at $38,189,000 after buying an additional 305,456 shares during the period. Ocean Park Asset Management LLC acquired a new position in shares of Alger AI Enablers & Adopters ETF during the 2nd quarter worth about $6,405,000. Western Pacific Wealth Management LP increased its position in shares of Alger AI Enablers & Adopters ETF by 354.6% in the 3rd quarter. Western Pacific Wealth Management LP now owns 49,169 shares of the company’s stock valued at $2,285,000 after buying an additional 38,354 shares in the last quarter. Grove Bank & Trust raised its position in shares of Alger AI Enablers & Adopters ETF by 2,491.1% during the third quarter. Grove Bank & Trust now owns 32,751 shares of the company’s stock worth $1,522,000 after purchasing an additional 31,487 shares during the period. Finally, Sax Wealth Advisors LLC bought a new position in Alger AI Enablers & Adopters ETF in the third quarter valued at approximately $1,313,000.

Alger AI Enablers & Adopters ETF Price Performance

ALAI opened at $39.86 on Friday. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 27.94 and a beta of 1.97. Alger AI Enablers & Adopters ETF has a 1 year low of $30.84 and a 1 year high of $48.36. The business’s 50-day moving average price is $44.23 and its two-hundred day moving average price is $41.28.

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.