Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) Trading Up 2% – Here’s What Happened

Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) shares were up 2% 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 Stock Performance

The firm’s fifty day moving average is $37.23 and its 200-day moving average is $36.23. The company has a market capitalization of $115.62 million, a P/E ratio of 9.53 and a beta of 1.29.

Hedge Funds Weigh In On Amplify AI Powered Equity ETF

A hedge fund recently raised its stake in Amplify AI Powered Equity ETF stock. Commonwealth Equity Services LLC boosted its stake in shares of Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) by 18.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 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.