TLDR: Janney Montgomery Scott LLC has significantly increased its holdings in the Roundhill Generative AI & Technology ETF (NYSEARCA:CHAT), boosting its stake by 12.7% during the first quarter. The firm now owns 6,217 shares of the actively managed fund, valued at approximately $217,000.
Janney Montgomery Scott LLC has announced a notable increase in its investment in the Roundhill Generative AI & Technology ETF (NYSEARCA:CHAT), according to its most recent 13F filing with the Securities & Exchange Commission. The financial services firm expanded its position in the ETF by 12.7% during the first quarter of the year.
Following this acquisition, Janney Montgomery Scott LLC now holds a total of 6,217 shares of CHAT, having purchased an additional 700 shares during the quarter. This stake is valued at approximately $217,000 as of the end of the most recent reporting period, representing about 0.09% of the ETF’s total shares.
The Roundhill Generative AI & Technology ETF (CHAT) is an actively managed exchange-traded fund designed to provide investors with exposure to companies at the forefront of generative artificial intelligence and related technological advancements. Launched on May 18, 2023, the fund typically invests in 25 to 50 companies globally that are involved in developing, training, and commercializing large language models, providing AI infrastructure, and building generative AI applications for businesses. The ETF has a gross expense ratio of 0.75% per year.
Beyond Janney Montgomery Scott LLC, other institutional investors have also adjusted their positions in CHAT. NewEdge Advisors LLC, for instance, dramatically increased its holdings by 2,875.6% in the first quarter, bringing its total to 6,338 shares valued at $221,000. Additionally, Flow Traders U.S. LLC and OLD Mission Capital LLC initiated new positions in the ETF during the first quarter, valued at $829,000 and $909,000 respectively.
Also Read:
- Zeta Global (ZETA) Stock Jumps Over 12% Following AI Opportunity Study and Strong Q1 Results
- Artificial Intelligence and Behavioral Finance Reshape Retail Investment Landscape
As of recent trading, the Roundhill Generative AI & Technology ETF has shown dynamic performance. The stock opened at $48.77 on Monday, with a twelve-month trading range between a low of $28.96 and a high of $49.07. The ETF currently holds a market capitalization of $354.80 million, a price-to-earnings ratio of 21.50, and a beta of 1.51. Its 50-day moving average stands at $42.97, while its two-hundred-day moving average is $40.25.
