Short Interest in First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) Grows By 302.2%

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) saw a significant growth in short interest in August. As of August 31st, there was short interest totaling 134,998 shares, a growth of 302.2% from the August 15th total of 33,568 shares. Based on an average daily volume of 30,442 shares, the days-to-cover ratio is currently 4.4 days. Approximately 4.3% of the company’s stock are short sold.

Institutional Trading of First Trust Bloomberg Artificial Intelligence ETF

Several institutional investors and hedge funds have recently made changes to their positions in FAI. International Assets Investment Management LLC purchased a new stake in First Trust Bloomberg Artificial Intelligence ETF in the 4th quarter valued at about $33,000. Arax Advisory Partners purchased a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF during the fourth quarter valued at approximately $33,000. Advisory Services Network LLC purchased a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF during the third quarter valued at approximately $88,000. Tucker Asset Management LLC purchased a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF during the second quarter valued at approximately $100,000. Finally, Harbour Investments Inc. lifted its holdings in First Trust Bloomberg Artificial Intelligence ETF by 49.6% during the fourth quarter. Harbour Investments Inc. now owns 2,598 shares of the company’s stock worth $107,000 after acquiring an additional 861 shares during the period.

First Trust Bloomberg Artificial Intelligence ETF Trading Up 1.2%

First Trust Bloomberg Artificial Intelligence ETF stock traded up $0.63 during trading on Friday, hitting $54.39. 26,511 shares of the company were exchanged, compared to its average volume of 33,610. The business’s 50 day moving average is $52.72 and its 200 day moving average is $48.41. First Trust Bloomberg Artificial Intelligence ETF has a 52 week low of $35.54 and a 52 week high of $58.27. The company has a market capitalization of $171.33 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.