Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) Sees Minor Gains – What Lies Ahead?

On Thursday, shares of the Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) experienced a slight increase, climbing by 0.2% during trading. The stock reached a peak of $40.68 and concluded the day at $40.58. In total, 2,083 shares were traded on this day, which is a significant drop of 60% compared to the average trading volume of 5,208 shares. In the previous trading session, the shares had closed at $40.50.

Performance Overview of Amplify AI Powered Equity ETF

The 50-day moving average price for AIEQ stands at $40.62, while the 200-day moving average price is notably lower at $38.16. The ETF currently boasts a market capitalization of $121.74 million. It features a price-to-earnings (P/E) ratio of 9.53 and a beta of 1.29, indicating its volatility relative to the market.

Institutional Investment Activities

In recent developments, Commonwealth Equity Services LLC, an institutional investor, has notably increased its stake in the Amplify AI Powered Equity ETF. According to a filing with the Securities and Exchange Commission (SEC), the firm raised its position by 18.0% in the second quarter. After acquiring an additional 1,151 shares during this period, Commonwealth Equity Services LLC now owns a total of 7,530 shares, representing approximately 0.25% of the ETF, valued at $273,000 by the end of the last quarter.

Introduction to Amplify AI Powered Equity ETF

The Amplify AI Powered Equity ETF (AIEQ) is an exchange-traded fund designed to track the S&P Total Market index. This actively-managed fund comprises US stocks selected through a proprietary, quantitative model that leverages artificial intelligence (AI). AIEQ was officially launched on October 17, 2017, and is managed by ETF Managers Group.

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