First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) Shares Shorted: Short Interest Down 93.9% in September

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totaling 8,232 shares, a decrease of 93.9% from the August 31st total of 134,998 shares. Based on an average daily volume of 21,465 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.2% of the company’s stock are short sold.

Institutional Investors Weigh In On First Trust Bloomberg Artificial Intelligence ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. bought a new stake in First Trust Bloomberg Artificial Intelligence ETF in the 2nd quarter valued at $239,000. Envestnet Asset Management Inc. bought a new position in First Trust Bloomberg Artificial Intelligence ETF during the 2nd quarter worth about $12,763,000. Bullseye Investment Management LLC bought a new position in First Trust Bloomberg Artificial Intelligence ETF during the 2nd quarter worth about $8,062,000. RFG Advisory LLC acquired a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF in the 2nd quarter valued at about $959,000. Finally, IFP Advisors Inc acquired a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF in the 2nd quarter valued at about $665,000.

First Trust Bloomberg Artificial Intelligence ETF Stock Performance

FAI stock traded up $0.10 during mid-day trading on Thursday, hitting $56.79. 23,520 shares of the company were exchanged, compared to its average volume of 33,106. First Trust Bloomberg Artificial Intelligence ETF has a 1-year low of $35.54 and a 1-year high of $58.27. The firm’s 50 day simple moving average is $53.32 and its 200 day simple moving average is $49.49. The firm has a market cap of $198.76 million, a P/E ratio of 33.52 and a beta of 2.13.

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.