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

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 1,895 shares, a growth of 322.0% from the December 31st total of 449 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 8,782 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily trading volume, of 8,782 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.2% of the company’s stock are sold short.

Institutional Trading of First Trust Bloomberg Artificial Intelligence ETF

A number of hedge funds have recently made changes to their positions in FAI. Centaurus Financial Inc. grew its stake in shares of First Trust Bloomberg Artificial Intelligence ETF by 392.5% in the second quarter. Centaurus Financial Inc. now owns 50,113 shares of the company’s stock valued at $1,765,000 after buying an additional 39,937 shares in the last quarter. Jane Street Group LLC bought a new position in shares of First Trust Bloomberg Artificial Intelligence ETF in the first quarter valued at approximately $709,000. Redhawk Wealth Advisors Inc. bought a new position in shares of First Trust Bloomberg Artificial Intelligence ETF in the third quarter worth $630,000. Osaic Holdings Inc. raised its holdings in shares of First Trust Bloomberg Artificial Intelligence ETF by 517.3% during the 2nd quarter. Osaic Holdings Inc. now owns 10,907 shares of the company’s stock valued at $384,000 after buying an additional 9,140 shares in the last quarter. Finally, Chris Bulman Inc purchased a new position in First Trust Bloomberg Artificial Intelligence ETF during the 4th quarter valued at $297,000.

First Trust Bloomberg Artificial Intelligence ETF Trading Down 1.9%

Shares of FAI stock traded down $0.79 during trading hours on Friday, hitting $41.53. 2,556 shares of the company were exchanged, compared to its average volume of 7,957. The business has a 50 day moving average of $41.39 and a two-hundred day moving average of $39.83. First Trust Bloomberg Artificial Intelligence ETF has a 52 week low of $22.92 and a 52 week high of $44.03. The company has a market capitalization of $33.22 million, a PE ratio of 33.52 and a beta of 2.01.

About First Trust Bloomberg Artificial Intelligence ETF

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.