Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Sees Significant Growth in Short Interest

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 92,300 shares, an increase of 52.3% from the September 30th total of 60,600 shares. Approximately 1.2% of the shares of the company are short sold. Based on an average daily volume of 123,800 shares, the short-interest ratio is currently 0.7 days. Based on an average daily volume of 123,800 shares, the short-interest ratio is currently 0.7 days. Approximately 1.2% of the shares of the company are short sold.

Institutional Trading of Alger AI Enablers & Adopters ETF

Institutional investors and hedge funds have recently modified their holdings of the company. Grove Bank & Trust bought a new stake in shares of Alger AI Enablers & Adopters ETF during the third quarter valued at approximately $47,000. Osaic Holdings Inc. increased its position in shares of Alger AI Enablers & Adopters ETF by 25.9% during the second quarter. Osaic Holdings Inc. now owns 6,886 shares of the company’s stock valued at $212,000 after purchasing an additional 1,415 shares during the period. Wealth Effects LLC bought a new stake in shares of Alger AI Enablers & Adopters ETF during the second quarter valued at approximately $259,000. Private Trust Co. NA bought a new stake in shares of Alger AI Enablers & Adopters ETF during the third quarter valued at approximately $333,000. Finally, Thoroughbred Financial Services LLC bought a new stake in shares of Alger AI Enablers & Adopters ETF during the first quarter valued at approximately $232,000.

Alger AI Enablers & Adopters ETF Price Performance

Shares of ALAI traded up $0.14 on Monday, reaching $38.66. 102,872 shares of the stock traded hands, compared to its average volume of 58,206. The firm has a market cap of $291.88 million, a price-to-earnings ratio of 29.71 and a beta of 1.95. Alger AI Enablers & Adopters ETF has a 12 month low of $20.03 and a 12 month high of $39.26. The stock’s 50-day moving average price is $36.68 and its 200-day moving average price is $31.86.

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.