Commonwealth Equity Services LLC Raises Stake in Alger AI Enablers & Adopters ETF $ALAI

Commonwealth Equity Services LLC grew its position in Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) by 113.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,058 shares of the company’s stock after purchasing an additional 77,591 shares during the quarter. Commonwealth Equity Services LLC owned approximately 1.96% of Alger AI Enablers & Adopters ETF worth $5,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Orion Porfolio Solutions LLC bought a new stake in Alger AI Enablers & Adopters ETF during the second quarter valued at about $1,631,000. Goldstein Advisors LLC bought a new position in shares of Alger AI Enablers & Adopters ETF in the third quarter worth about $22,294,000. Apollon Financial LLC purchased a new stake in shares of Alger AI Enablers & Adopters ETF during the third quarter worth about $1,037,000. Envestnet Asset Management Inc. grew its position in shares of Alger AI Enablers & Adopters ETF by 24.4% during the second quarter. Envestnet Asset Management Inc. now owns 14,113 shares of the company’s stock worth $435,000 after purchasing an additional 2,768 shares in the last quarter. Finally, Wealth Effects LLC purchased a new stake in Alger AI Enablers & Adopters ETF during the 2nd quarter valued at approximately $259,000.

Alger AI Enablers & Adopters ETF Stock Down 2.0%

Shares of Alger AI Enablers & Adopters ETF stock opened at $36.56 on Thursday. The firm has a market cap of $294.67 million, a price-to-earnings ratio of 29.71 and a beta of 1.95. Alger AI Enablers & Adopters ETF has a twelve month low of $20.03 and a twelve month high of $39.26. The business has a 50-day moving average price of $36.57 and a 200-day moving average price of $35.33.

Alger AI Enablers & Adopters ETF Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Wednesday, December 31st. Stockholders of record on Thursday, December 18th were issued a dividend of $0.5411 per share. This represents a dividend yield of 151.0%. The ex-dividend date of this dividend was Thursday, December 18th.

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.