Flagship Harbor Advisors LLC Buys New Position in Alger AI Enablers & Adopters ETF $ALAI

Flagship Harbor Advisors LLC purchased a new stake in Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 15,314 shares of the company’s stock, valued at approximately $574,000. Flagship Harbor Advisors LLC owned approximately 0.20% of Alger AI Enablers & Adopters ETF as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Arkadios Wealth Advisors lifted its position in shares of Alger AI Enablers & Adopters ETF by 31.5% in the 3rd quarter. Arkadios Wealth Advisors now owns 716,904 shares of the company’s stock worth $26,884,000 after purchasing an additional 171,705 shares during the period. Goldstein Advisors LLC bought a new position in Alger AI Enablers & Adopters ETF in the third quarter worth about $22,294,000. Mirae Asset Securities USA Inc. purchased a new stake in Alger AI Enablers & Adopters ETF in the third quarter worth about $8,438,000. Great Valley Advisor Group Inc. purchased a new stake in Alger AI Enablers & Adopters ETF in the second quarter worth about $5,866,000. Finally, Commonwealth Equity Services LLC boosted its position in Alger AI Enablers & Adopters ETF by 113.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 146,058 shares of the company’s stock valued at $5,477,000 after acquiring an additional 77,591 shares in the last quarter.

Alger AI Enablers & Adopters ETF Stock Performance

Shares of NYSEARCA:ALAI opened at $34.70 on Friday. The firm has a market capitalization of $285.58 million, a P/E ratio of 29.71 and a beta of 1.95. The stock has a 50 day moving average price of $36.52 and a 200-day moving average price of $35.95. Alger AI Enablers & Adopters ETF has a 52-week low of $20.03 and a 52-week high of $39.26.

Alger AI Enablers & Adopters ETF Announces Dividend

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

About Alger AI Enablers & Adopters ETF

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.