Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) Trading Up 2% – Should You Buy?

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

Amplify AI Powered Equity ETF Trading Up 2.0 %

The stock has a market cap of $115.62 million, a PE ratio of 9.53 and a beta of 1.29. The business has a 50 day moving average of $37.23 and a 200-day moving average of $36.23.

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 increased its holdings in shares of Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) by 18.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,530 shares of the company’s stock after purchasing an additional 1,151 shares during the period. Commonwealth Equity Services LLC owned 0.25% of Amplify AI Powered Equity ETF worth $273,000 as of its most recent SEC filing.

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.