Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) Stock Price Passes Above 50-Day Moving Average – Here’s Why

Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $38.48 and traded as high as $41.85. Amplify AI Powered Equity ETF shares last traded at $41.53, with a volume of 5,743 shares traded.

Amplify AI Powered Equity ETF Stock Performance

The company has a market cap of $124.59 million, a PE ratio of 9.53 and a beta of 1.29. The firm’s 50 day moving average is $38.48 and its 200-day moving average is $36.85.

Institutional Investors Weigh In On Amplify AI Powered Equity ETF

An institutional investor recently raised its stake in Amplify AI Powered Equity ETF stock. Commonwealth Equity Services LLC raised its stake in Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) by 18.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

About Amplify AI Powered Equity ETF

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.