Short Interest in Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Expands By 86.4%

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) saw a large increase in short interest in May. As of May 31st, there was short interest totalling 8,200 shares, an increase of 86.4% from the May 15th total of 4,400 shares. Based on an average daily trading volume, of 13,000 shares, the short-interest ratio is presently 0.6 days. Approximately 0.7% of the shares of the stock are short sold.

Alger AI Enablers & Adopters ETF Stock Up 1.2%

Shares of NYSEARCA ALAI traded up $0.36 during trading hours on Monday, reaching $29.36. 18,387 shares of the stock traded hands, compared to its average volume of 11,972. The company’s 50-day simple moving average is $25.60 and its two-hundred day simple moving average is $25.97. The company has a market capitalization of $36.99 million, a P/E ratio of 32.23 and a beta of 1.99. Alger AI Enablers & Adopters ETF has a 52-week low of $18.73 and a 52-week high of $29.77.

Hedge Funds Weigh In On Alger AI Enablers & Adopters ETF

Large investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC bought a new stake in shares of Alger AI Enablers & Adopters ETF in the 4th quarter worth approximately $234,000. HighTower Advisors LLC bought a new stake in Alger AI Enablers & Adopters ETF in the fourth quarter worth $233,000. Commonwealth Equity Services LLC boosted its holdings in Alger AI Enablers & Adopters ETF by 79.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 21,677 shares of the company’s stock worth $569,000 after acquiring an additional 9,624 shares in the last quarter. Thoroughbred Financial Services LLC bought a new stake in Alger AI Enablers & Adopters ETF in the first quarter worth $232,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of Alger AI Enablers & Adopters ETF in the fourth quarter worth $285,000.

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.