Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) Trading Down 2.5% – Here’s Why

Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) dropped 2.5% on Monday . The stock traded as low as $38.34 and last traded at $38.50. Approximately 10,165 shares were traded during mid-day trading, an increase of 42% from the average daily volume of 7,142 shares. The stock had previously closed at $39.47.

Amplify AI Powered Equity ETF Stock Performance

The stock has a market cap of $107.03 million, a P/E ratio of 27.86 and a beta of 1.14. The firm has a 50-day moving average price of $40.85 and a 200-day moving average price of $39.32.

Institutional Investors Weigh In On Amplify AI Powered Equity ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EPG Wealth Management LLC purchased a new stake in shares of Amplify AI Powered Equity ETF in the fourth quarter worth approximately $208,000. Wealthfront Advisers LLC bought a new position in Amplify AI Powered Equity ETF in the fourth quarter worth approximately $415,000. SOA Wealth Advisors LLC. bought a new position in Amplify AI Powered Equity ETF in the fourth quarter worth approximately $95,000. Finally, FMR LLC grew its stake in Amplify AI Powered Equity ETF by 298.3% in the third quarter. FMR LLC now owns 693 shares of the company’s stock worth $26,000 after purchasing an additional 519 shares in the last quarter.

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.