First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) Sees Significant Drop in Short Interest

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) was the target of a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 21,943 shares, a decline of 93.1% from the May 31st total of 316,987 shares. Based on an average trading volume of 33,038 shares, the short-interest ratio is presently 0.7 days. Currently, 2.1% of the company’s shares are short sold.

First Trust Bloomberg Artificial Intelligence ETF Price Performance

Shares of FAI traded up $0.84 during midday trading on Thursday, hitting $52.58. The stock had a trading volume of 28,802 shares, compared to its average volume of 19,153. First Trust Bloomberg Artificial Intelligence ETF has a 1 year low of $34.42 and a 1 year high of $58.27. The firm has a market cap of $55.21 million, a PE ratio of 33.52 and a beta of 2.07. The stock’s 50 day moving average is $50.62 and its 200 day moving average is $43.85.

Institutional Investors Weigh In On First Trust Bloomberg Artificial Intelligence ETF

Several hedge funds and other institutional investors have recently modified their holdings of the business. Centaurus Financial Inc. lifted its stake in shares of First Trust Bloomberg Artificial Intelligence ETF by 0.7% during the 1st quarter. Centaurus Financial Inc. now owns 46,351 shares of the company’s stock worth $1,724,000 after acquiring an additional 333 shares during the last quarter. BankPlus Trust Department bought a new position in First Trust Bloomberg Artificial Intelligence ETF in the 4th quarter valued at $25,000. Chicago Partners Investment Group LLC grew its position in First Trust Bloomberg Artificial Intelligence ETF by 5.5% in the 1st quarter. Chicago Partners Investment Group LLC now owns 12,887 shares of the company’s stock valued at $479,000 after acquiring an additional 677 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in First Trust Bloomberg Artificial Intelligence ETF in the fourth quarter worth $33,000. Finally, Arax Advisory Partners purchased a new stake in First Trust Bloomberg Artificial Intelligence ETF in the fourth quarter worth $33,000.

First Trust Bloomberg Artificial Intelligence ETF Company Profile

The First Trust Bloomberg Artificial Intelligence ETF (FAI) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a market cap-weighted index of companies in the artificial intelligence AI industry. It comprises the top 50 securities globally by revenue and themes assessments. FAI was launched on Nov 20, 2024 and is issued by First Trust.