Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) Trading 2% Higher – Still a Buy?

Amplify AI Powered Equity ETF (NYSEARCA:AIEQ)’s stock price shot up 2% on Tuesday . The company traded as high as $38.58 and last traded at $38.54. 6,367 shares were traded during mid-day trading, a decline of 35% from the average session volume of 9,812 shares. The stock had previously closed at $37.80.

Amplify AI Powered Equity ETF Price Performance

The company has a market capitalization of $121.32 million, a price-to-earnings ratio of 9.53 and a beta of 1.29. The stock has a 50 day moving average price of $37.33 and a two-hundred day moving average price of $36.29.

Hedge Funds Weigh In On Amplify AI Powered Equity ETF

An institutional investor recently raised its position in Amplify AI Powered Equity ETF stock. Commonwealth Equity Services LLC boosted its position in Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) by 18.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,530 shares of the company’s stock after buying an additional 1,151 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.25% of Amplify AI Powered Equity ETF worth $273,000 as of its most recent filing with the SEC.

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.