First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) Short Interest Down 29.0% in March

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) was the recipient of a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 4,254 shares, a decrease of 29.0% from the February 26th total of 5,990 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average trading volume of 6,092 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BankPlus Trust Department bought a new position in First Trust Bloomberg Artificial Intelligence ETF during the 4th quarter worth $25,000. International Assets Investment Management LLC bought a new stake in First Trust Bloomberg Artificial Intelligence ETF in the fourth quarter valued at $33,000. Arax Advisory Partners acquired a new position in shares of First Trust Bloomberg Artificial Intelligence ETF during the fourth quarter valued at $33,000. CoreCap Advisors LLC acquired a new position in shares of First Trust Bloomberg Artificial Intelligence ETF during the third quarter valued at $56,000. Finally, Advisory Services Network LLC bought a new position in shares of First Trust Bloomberg Artificial Intelligence ETF during the third quarter worth about $88,000.

First Trust Bloomberg Artificial Intelligence ETF Stock Down 2.4%

FAI stock traded down $0.88 during midday trading on Friday, reaching $36.12. The company had a trading volume of 4,882 shares, compared to its average volume of 8,735. The stock has a 50 day moving average price of $39.77 and a 200 day moving average price of $40.57. First Trust Bloomberg Artificial Intelligence ETF has a fifty-two week low of $22.92 and a fifty-two week high of $44.03. The firm has a market capitalization of $28.90 million, a PE ratio of 33.52 and a beta of 2.01.

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.