Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Short Interest Up 235.9% in March

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) was the target of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 56,683 shares, a growth of 235.9% from the February 26th total of 16,873 shares. Approximately 0.7% of the company’s stock are short sold. Based on an average daily volume of 108,668 shares, the short-interest ratio is currently 0.5 days. Based on an average daily volume of 108,668 shares, the short-interest ratio is currently 0.5 days. Approximately 0.7% of the company’s stock are short sold.

Institutional Trading of Alger AI Enablers & Adopters ETF

Several hedge funds and other institutional investors have recently bought and sold shares of ALAI. Rubicon Advisors GP bought a new position in shares of Alger AI Enablers & Adopters ETF in the 4th quarter worth $366,000. CFO Capital Management LLC bought a new stake in Alger AI Enablers & Adopters ETF during the fourth quarter valued at about $1,219,000. Sankala Group LLC bought a new stake in Alger AI Enablers & Adopters ETF during the fourth quarter valued at about $333,000. Axxcess Wealth Management LLC grew its stake in Alger AI Enablers & Adopters ETF by 4.6% in the fourth quarter. Axxcess Wealth Management LLC now owns 31,664 shares of the company’s stock valued at $1,143,000 after purchasing an additional 1,405 shares during the last quarter. Finally, Onyx Bridge Wealth Group LLC raised its holdings in Alger AI Enablers & Adopters ETF by 11.8% in the fourth quarter. Onyx Bridge Wealth Group LLC now owns 96,668 shares of the company’s stock worth $3,491,000 after purchasing an additional 10,228 shares in the last quarter.

Alger AI Enablers & Adopters ETF Stock Up 0.9%

Shares of NYSEARCA ALAI traded up $0.29 during midday trading on Wednesday, reaching $33.72. 89,115 shares of the company’s stock traded hands, compared to its average volume of 87,227. The stock’s 50 day simple moving average is $34.96 and its 200-day simple moving average is $36.22. Alger AI Enablers & Adopters ETF has a one year low of $20.03 and a one year high of $39.26. The company has a market cap of $277.52 million, a price-to-earnings ratio of 29.71 and a beta of 1.95.

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.