Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) Trading Up 0.7% – Still a Buy?

Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) traded up 0.7% during mid-day trading on Thursday . The stock traded as high as $42.94 and last traded at $42.91. 3,020 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 7,199 shares. The stock had previously closed at $42.62.

Amplify AI Powered Equity ETF Stock Up 0.7%

The firm has a market cap of $112.64 million, a P/E ratio of 26.62 and a beta of 1.18. The company’s 50 day simple moving average is $41.29 and its 200-day simple moving average is $39.54.

Institutional Trading of Amplify AI Powered Equity ETF

Institutional investors have recently added to or reduced their stakes in the company. EPG Wealth Management LLC bought a new stake in Amplify AI Powered Equity ETF in the fourth quarter worth about $208,000. Wealth Enhancement Advisory Services LLC bought a new stake in Amplify AI Powered Equity ETF in the fourth quarter worth about $6,579,000. Wood Tarver Financial Group LLC bought a new stake in Amplify AI Powered Equity ETF in the fourth quarter worth about $179,000. Finally, LPL Financial LLC lifted its stake in Amplify AI Powered Equity ETF by 10.0% in the first quarter. LPL Financial LLC now owns 187,074 shares of the company’s stock worth $6,896,000 after purchasing an additional 17,044 shares during the last quarter.

Amplify AI Powered Equity ETF Company Profile

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.