First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) Short Interest Update

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) was the target of a large decrease in short interest in the month of 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. Approximately 0.2% of the shares of the stock are sold short.

Hedge Funds Weigh In On First Trust Bloomberg Artificial Intelligence ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. bought a new stake in First Trust Bloomberg Artificial Intelligence ETF in the 2nd quarter valued at $12,763,000. Bullseye Investment Management LLC purchased a new stake in First Trust Bloomberg Artificial Intelligence ETF in the 2nd quarter worth $8,062,000. Kestra Advisory Services LLC boosted its holdings in shares of First Trust Bloomberg Artificial Intelligence ETF by 24.5% during the 1st quarter. Kestra Advisory Services LLC now owns 133,131 shares of the company’s stock valued at $4,952,000 after purchasing an additional 26,211 shares during the last quarter. Centaurus Financial Inc. boosted its holdings in shares of First Trust Bloomberg Artificial Intelligence ETF by 0.7% during the 1st quarter. Centaurus Financial Inc. now owns 46,351 shares of the company’s stock valued at $1,724,000 after purchasing an additional 333 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of First Trust Bloomberg Artificial Intelligence ETF by 8.6% during the 1st quarter. Cetera Investment Advisers now owns 28,224 shares of the company’s stock valued at $1,050,000 after purchasing an additional 2,238 shares during the last quarter.

First Trust Bloomberg Artificial Intelligence ETF Stock Performance

FAI traded up $0.14 during trading on Friday, reaching $56.93. 118,556 shares of the company traded hands, compared to its average volume of 33,570. First Trust Bloomberg Artificial Intelligence ETF has a 12-month low of $35.54 and a 12-month high of $58.27. The firm has a fifty day simple moving average of $53.47 and a 200 day simple moving average of $49.54. The company has a market cap of $199.25 million, a P/E ratio of 33.52 and a beta of 2.13.

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.