Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) Shares Down 0.8% – Here’s Why

Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) traded down 0.8% during trading on Friday . The company traded as low as $41.38 and last traded at $41.38. 2,397 shares were traded during trading, a decline of 63% from the average session volume of 6,404 shares. The stock had previously closed at $41.71.

Amplify AI Powered Equity ETF Price Performance

The stock has a market capitalization of $124.14 million, a PE ratio of 9.53 and a beta of 1.29. The firm’s 50 day simple moving average is $40.81 and its 200 day simple moving average is $38.63.

Institutional Investors Weigh In On Amplify AI Powered Equity ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wealthfront Advisers LLC purchased a new stake in shares of Amplify AI Powered Equity ETF during the fourth quarter worth about $415,000. SOA Wealth Advisors LLC. bought a new position in Amplify AI Powered Equity ETF during the 4th quarter valued at approximately $95,000. Finally, FMR LLC lifted its holdings in Amplify AI Powered Equity ETF by 298.3% in the 3rd quarter. FMR LLC now owns 693 shares of the company’s stock worth $26,000 after buying an additional 519 shares during the period.

Amplify AI Powered Equity ETF Company Profile

The AI Powered Equity ETF (AIEQ) is an exchange-traded fund that is based on the S&P Total Market index. The fund is an actively-managed fund of US stocks selected by a proprietary, quantitative model that incorporates artificial intelligence (AI). AIEQ was launched on Oct 17, 2017 and is managed by ETF Managers Group.