Commonwealth Equity Services LLC Grows Position in Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI)

Commonwealth Equity Services LLC grew its holdings in shares of Alger AI Enablers & Adopters ETF (NYSEARCA:ALAI) by 79.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,677 shares of the company’s stock after acquiring an additional 9,624 shares during the quarter. Commonwealth Equity Services LLC owned about 9.63% of Alger AI Enablers & Adopters ETF worth $569,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Wealth Effects LLC bought a new stake in Alger AI Enablers & Adopters ETF during the fourth quarter valued at approximately $224,000. HighTower Advisors LLC purchased a new stake in shares of Alger AI Enablers & Adopters ETF during the 4th quarter valued at $233,000. Sanctuary Advisors LLC bought a new stake in shares of Alger AI Enablers & Adopters ETF during the 4th quarter worth $234,000. Whipplewood Advisors LLC purchased a new position in Alger AI Enablers & Adopters ETF in the fourth quarter worth $285,000. Finally, Onyx Bridge Wealth Group LLC purchased a new position in Alger AI Enablers & Adopters ETF in the fourth quarter worth $1,177,000.

Alger AI Enablers & Adopters ETF Stock Down 6.2 %

NYSEARCA ALAI opened at $20.52 on Friday. The stock’s 50-day simple moving average is $25.62 and its two-hundred day simple moving average is $25.55. Alger AI Enablers & Adopters ETF has a twelve month low of $18.45 and a twelve month high of $29.22. The company has a market capitalization of $26.47 million, a price-to-earnings ratio of 32.83 and a beta of 1.99.

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.