Private Advisor Group LLC Increases Stock Holdings in Alger AI Enablers & Adopters ETF $ALAI

Private Advisor Group LLC increased its position in Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) by 143.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,842 shares of the company’s stock after acquiring an additional 27,639 shares during the quarter. Private Advisor Group LLC owned about 0.53% of Alger AI Enablers & Adopters ETF worth $1,548,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. NewEdge Advisors LLC bought a new stake in Alger AI Enablers & Adopters ETF during the 2nd quarter worth approximately $1,480,000. Great Valley Advisor Group Inc. purchased a new position in shares of Alger AI Enablers & Adopters ETF during the 2nd quarter valued at $5,866,000. Orion Porfolio Solutions LLC purchased a new position in shares of Alger AI Enablers & Adopters ETF during the 2nd quarter valued at $1,631,000. Osaic Holdings Inc. increased its holdings in shares of Alger AI Enablers & Adopters ETF by 25.9% in the second quarter. Osaic Holdings Inc. now owns 6,886 shares of the company’s stock worth $212,000 after purchasing an additional 1,415 shares during the period. Finally, PCG Wealth Advisors LLC bought a new position in shares of Alger AI Enablers & Adopters ETF in the third quarter worth $867,000.

Alger AI Enablers & Adopters ETF Stock Up 0.9%

Shares of ALAI stock traded up $0.39 on Friday, reaching $45.37. The company’s stock had a trading volume of 49,950 shares, compared to its average volume of 91,819. The company has a market capitalization of $456.88 million, a P/E ratio of 29.71 and a beta of 1.89. Alger AI Enablers & Adopters ETF has a 12-month low of $30.37 and a 12-month high of $46.88. The stock’s 50 day simple moving average is $43.99 and its 200-day simple moving average is $38.56.

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.