Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) Stock Falls 1.6% – Here’s Why

Amplify AI Powered Equity ETF (NYSEARCA:AIEQ)’s stock price fell 1.6% during mid-day trading on Friday. The company traded as low as $48.39 and last traded at $48.41. 1,414 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 4,691 shares. The stock had previously closed at $49.20.

Amplify AI Powered Equity ETF Price Performance

The company has a fifty day simple moving average of $49.78 and a two-hundred day simple moving average of $48.06. The company has a market capitalization of $111.34 million, a P/E ratio of 26.62 and a beta of 1.17.

Institutional Trading of Amplify AI Powered Equity ETF

An institutional investor recently raised its stake in Amplify AI Powered Equity ETF stock. Wellington Altus USA Inc. increased its position in shares of Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) by 161.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,750 shares of the company’s stock after buying an additional 1,700 shares during the quarter. Wellington Altus USA Inc. owned 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.