Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) Stock Price Up 0.8% – Here’s Why

Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) rose 0.8% on Monday. The company traded as high as $49.88 and last traded at $49.82. Approximately 2,635 shares changed hands during trading, a decline of 46% from the average session volume of 4,919 shares. The stock had previously closed at $49.43.

Amplify AI Powered Equity ETF Stock Performance

The stock has a fifty day simple moving average of $50.16 and a two-hundred day simple moving average of $48.69. The stock has a market capitalization of $114.59 million, a price-to-earnings ratio of 26.62 and a beta of 1.17.

Institutional Investors Weigh In On Amplify AI Powered Equity ETF

A hedge fund recently raised its position in Amplify AI Powered Equity ETF stock. Wellington Altus USA Inc. boosted its holdings in Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) by 161.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,750 shares of the company’s stock after purchasing an additional 1,700 shares during the quarter. Wellington Altus USA Inc. owned about 0.14% of Amplify AI Powered Equity ETF worth $136,000 at the end of the most recent quarter.

About Amplify AI Powered Equity ETF

The AI Powered Equity ETF (AIEQ) is an exchange-traded fund that is based on the S&P Total Market index. The fund is an actively-managed fund of US stocks selected by a proprietary, quantitative model that incorporates artificial intelligence (AI). AIEQ was launched on Oct 17, 2017 and is managed by ETF Managers Group.