Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) Trading Down 2.5% – Time to Sell?

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

Amplify AI Powered Equity ETF Price Performance

The company has a market cap of $107.03 million, a price-to-earnings ratio of 27.86 and a beta of 1.14. The firm’s 50 day simple moving average is $40.85 and its 200-day simple moving average is $39.32.

Institutional Investors Weigh In On Amplify AI Powered Equity ETF

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