Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) Shares Down 2.2% – Here’s Why

Amplify AI Powered Equity ETF (NYSEARCA:AIEQ)’s stock price fell 2.2% during mid-day trading on Tuesday . The stock traded as low as $44.71 and last traded at $44.73. 9,275 shares were traded during mid-day trading, an increase of 12% from the average session volume of 8,315 shares. The stock had previously closed at $45.73.

Amplify AI Powered Equity ETF Stock Down 2.2%

The business’s 50 day moving average is $45.12 and its two-hundred day moving average is $44.52. The firm has a market capitalization of $116.30 million, a P/E ratio of 26.62 and a beta of 1.16.

Amplify AI Powered Equity ETF Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 30th were paid a $0.1943 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, December 30th.

Institutional Investors Weigh In On Amplify AI Powered Equity ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AIEQ. Integrated Wealth Concepts LLC boosted its stake in Amplify AI Powered Equity ETF by 2.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 17,179 shares of the company’s stock valued at $771,000 after purchasing an additional 442 shares in the last quarter. Citadel Advisors LLC raised its stake in shares of Amplify AI Powered Equity ETF by 113.2% in the 3rd quarter. Citadel Advisors LLC now owns 14,677 shares of the company’s stock worth $659,000 after buying an additional 7,793 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Amplify AI Powered Equity ETF in the second quarter valued at $124,000. Finally, Arkadios Wealth Advisors bought a new position in Amplify AI Powered Equity ETF during the second quarter valued at about $221,000.

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.