Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) Sees 0.2% Gain – What Lies Ahead?

On Thursday, shares of the Amplify AI Powered Equity ETF (NYSEARCA:AIEQ – Get Free Report) experienced a modest increase of 0.2%. The stock reached as high as $40.68 before settling at $40.58 by the end of the trading session. During this period, a total of 2,083 shares were traded, which marks a significant drop of 60% compared to the average trading volume of 5,208 shares. It is noteworthy that the stock had closed the previous session at $40.50.

Performance Overview of Amplify AI Powered Equity ETF

The ETF's 50-day moving average is recorded at $40.62, while its two-hundred-day moving average stands at $38.16. Currently, the company boasts a market capitalization of $121.74 million, with a price-to-earnings (P/E) ratio of 9.53 and a beta value of 1.29.

Institutional Interests in Amplify AI Powered Equity ETF

Recently, there has been a notable increase in institutional investment in the Amplify AI Powered Equity ETF. Commonwealth Equity Services LLC announced a boost of 18.0% in its holdings of AIEQ stock during the second quarter. According to the latest reports filed with the Securities and Exchange Commission (SEC), the firm now controls 7,530 shares after acquiring an additional 1,151 shares. This means Commonwealth holds approximately 0.25% of Amplify AI Powered Equity ETF, which is valued at around $273,000 as of the end of the last quarter.

Understanding Amplify AI Powered Equity ETF

The Amplify AI Powered Equity ETF (AIEQ) is a unique exchange-traded fund that aims to reflect the S&P Total Market index. Unlike many other funds, AIEQ is actively managed, utilizing a proprietary, quantitative model driven by artificial intelligence (AI) to select its U.S. stock holdings. This ETF was launched on October 17, 2017, and is overseen by ETF Managers Group.

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