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

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totaling 10,339 shares, an increase of 316.4% from the November 30th total of 2,483 shares. Approximately 1.5% of the company’s stock are sold short. Based on an average trading volume of 6,488 shares, the short-interest ratio is presently 1.6 days. Based on an average trading volume of 6,488 shares, the short-interest ratio is presently 1.6 days. Approximately 1.5% of the company’s stock are sold short.

Institutional Investors Weigh In On First Trust Bloomberg Artificial Intelligence ETF

Institutional investors have recently modified their holdings of the company. CoreCap Advisors LLC acquired a new position in shares of First Trust Bloomberg Artificial Intelligence ETF during the third quarter worth $56,000. Advisory Services Network LLC acquired a new position in shares of First Trust Bloomberg Artificial Intelligence ETF during the 3rd quarter worth about $88,000. Envestnet Asset Management Inc. purchased a new position in shares of First Trust Bloomberg Artificial Intelligence ETF in the 3rd quarter valued at about $219,000. Osaic Holdings Inc. raised its position 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 worth $384,000 after acquiring an additional 9,140 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC raised its position in shares of First Trust Bloomberg Artificial Intelligence ETF by 8.5% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 15,370 shares of the company’s stock worth $541,000 after acquiring an additional 1,204 shares in the last quarter.

First Trust Bloomberg Artificial Intelligence ETF Price Performance

Shares of NYSEARCA FAI opened at $41.46 on Thursday. The stock’s 50-day moving average is $41.36 and its two-hundred day moving average is $38.51. The company has a market cap of $29.02 million, a price-to-earnings ratio of 33.52 and a beta of 2.01. First Trust Bloomberg Artificial Intelligence ETF has a 1-year low of $22.92 and a 1-year high of $44.03.

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.