Royal Bank of Canada Sells 34,844 Shares of First Trust Bloomberg Artificial Intelligence ETF $FAI

Royal Bank of Canada decreased its holdings in First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) by 79.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,058 shares of the company’s stock after selling 34,844 shares during the quarter. Royal Bank of Canada’s holdings in First Trust Bloomberg Artificial Intelligence ETF were worth $337,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. International Assets Investment Management LLC acquired a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF during the 4th quarter valued at about $33,000. Arax Advisory Partners bought a new stake in First Trust Bloomberg Artificial Intelligence ETF in the fourth quarter valued at about $33,000. Advisory Services Network LLC acquired a new position in First Trust Bloomberg Artificial Intelligence ETF in the third quarter worth about $88,000. Harbour Investments Inc. raised its position in First Trust Bloomberg Artificial Intelligence ETF by 49.6% in the fourth quarter. Harbour Investments Inc. now owns 2,598 shares of the company’s stock worth $107,000 after purchasing an additional 861 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new position in First Trust Bloomberg Artificial Intelligence ETF during the fourth quarter worth about $157,000.

First Trust Bloomberg Artificial Intelligence ETF Trading Up 0.2%

NYSEARCA FAI opened at $53.53 on Thursday. First Trust Bloomberg Artificial Intelligence ETF has a 1-year low of $35.54 and a 1-year high of $58.27. The company has a market capitalization of $168.62 million, a price-to-earnings ratio of 33.52 and a beta of 2.12. The stock’s 50 day moving average is $52.42 and its two-hundred day moving average is $47.21.

First Trust Bloomberg Artificial Intelligence ETF 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.