Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) Sees Significant Drop in Short Interest

Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) was the target of a large decline in short interest in the month of December. As of December 15th, there was short interest totaling 26,581 shares, a decline of 27.6% from the November 30th total of 36,723 shares. Based on an average trading volume of 61,317 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.3% of the shares of the company are sold short. Currently, 0.3% of the shares of the company are sold short. Based on an average trading volume of 61,317 shares, the days-to-cover ratio is presently 0.4 days.

Alger AI Enablers & Adopters ETF Price Performance

NYSEARCA:ALAI opened at $36.92 on Monday. Alger AI Enablers & Adopters ETF has a 1 year low of $20.03 and a 1 year high of $39.26. The stock’s fifty day moving average price is $36.85 and its two-hundred day moving average price is $34.71. The company has a market cap of $287.24 million, a P/E ratio of 29.71 and a beta of 1.95.

Alger AI Enablers & Adopters ETF Announces Dividend

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

Institutional Investors Weigh In On Alger AI Enablers & Adopters ETF

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Arkadios Wealth Advisors lifted its holdings in shares of Alger AI Enablers & Adopters ETF by 31.5% in the third quarter. Arkadios Wealth Advisors now owns 716,904 shares of the company’s stock worth $26,884,000 after buying an additional 171,705 shares in the last quarter. Goldstein Advisors LLC purchased a new position in Alger AI Enablers & Adopters ETF during the third quarter valued at approximately $22,294,000. Mirae Asset Securities USA Inc. bought a new stake in Alger AI Enablers & Adopters ETF during the 3rd quarter worth approximately $8,438,000. Great Valley Advisor Group Inc. purchased a new stake in Alger AI Enablers & Adopters ETF in the 2nd quarter worth approximately $5,866,000. Finally, Orion Porfolio Solutions LLC lifted its stake in Alger AI Enablers & Adopters ETF by 249.2% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 184,629 shares of the company’s stock worth $6,924,000 after purchasing an additional 131,752 shares in the last quarter.

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.