Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) Stock Price Passes Above 50 Day Moving Average – Should You Sell?

Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $39.51 and traded as high as $41.38. Amplify AI Powered Equity ETF shares last traded at $41.26, with a volume of 4,242 shares traded.

Amplify AI Powered Equity ETF Stock Performance

The firm has a 50-day moving average of $39.67 and a 200-day moving average of $37.41. The firm has a market capitalization of $122.96 million, a P/E ratio of 9.53 and a beta of 1.29.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Amplify AI Powered Equity ETF stock. Commonwealth Equity Services LLC raised its stake in shares of Amplify AI Powered Equity ETF (NYSEARCA:AIEQ) by 18.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 7,530 shares of the company’s stock after acquiring an additional 1,151 shares during the period. 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.