Orion Porfolio Solutions LLC Purchases New Shares in Alger AI Enablers & Adopters ETF $ALAI

Orion Porfolio Solutions LLC acquired a new stake in Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 52,877 shares of the company’s stock, valued at approximately $1,631,000. Orion Porfolio Solutions LLC owned approximately 1.72% of Alger AI Enablers & Adopters ETF as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of ALAI. Wealth Effects LLC acquired a new stake in shares of Alger AI Enablers & Adopters ETF during the 2nd quarter valued at about $259,000. Thoroughbred Financial Services LLC grew its holdings in Alger AI Enablers & Adopters ETF by 14.3% in the second quarter. Thoroughbred Financial Services LLC now owns 11,628 shares of the company’s stock valued at $358,000 after purchasing an additional 1,459 shares during the period. Envestnet Asset Management Inc. grew its holdings in Alger AI Enablers & Adopters ETF by 24.4% in the second quarter. Envestnet Asset Management Inc. now owns 14,113 shares of the company’s stock valued at $435,000 after purchasing an additional 2,768 shares during the period. Atria Investments Inc purchased a new stake in shares of Alger AI Enablers & Adopters ETF in the second quarter valued at approximately $449,000. Finally, HighTower Advisors LLC raised its stake in shares of Alger AI Enablers & Adopters ETF by 172.7% during the 1st quarter. HighTower Advisors LLC now owns 24,273 shares of the company’s stock worth $556,000 after buying an additional 15,373 shares during the period.

Alger AI Enablers & Adopters ETF Price Performance

Shares of NYSEARCA:ALAI opened at $36.39 on Friday. The business’s 50 day moving average price is $36.89 and its 200-day moving average price is $34.39. Alger AI Enablers & Adopters ETF has a 1 year low of $20.03 and a 1 year high of $39.26. The firm has a market capitalization of $283.11 million, a price-to-earnings ratio of 29.71 and a beta of 1.95.

Alger AI Enablers & Adopters ETF Dividend Announcement

The business also recently announced an annual dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Thursday, December 18th will be given a $0.5411 dividend. The ex-dividend date is Thursday, December 18th. This represents a dividend yield of 151.0%.

Alger AI Enablers & Adopters ETF 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.