First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) Shares Shorted: Short Interest Down 96.6% in October

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) was the recipient of a large decrease in short interest in October. As of October 15th, there was short interest totaling 27,207 shares, a decrease of 96.6% from the September 30th total of 791,535 shares. Based on an average trading volume of 77,482 shares, the short-interest ratio is presently 0.4 days. Approximately 0.6% of the company’s stock are sold short.

Hedge Funds Weigh In On First Trust Bloomberg Artificial Intelligence ETF

A number of institutional investors have recently added to or reduced their stakes in FAI. Tucker Asset Management LLC purchased a new position in First Trust Bloomberg Artificial Intelligence ETF during the second quarter valued at $100,000. Brookstone Capital Management purchased a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF in the 3rd quarter worth about $215,000. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF in the 2nd quarter worth about $239,000. Apollon Wealth Management LLC bought a new position in shares of First Trust Bloomberg Artificial Intelligence ETF in the 3rd quarter worth about $371,000. Finally, Atlas Private Wealth Advisors bought a new position in shares of First Trust Bloomberg Artificial Intelligence ETF in the 3rd quarter worth about $415,000.

First Trust Bloomberg Artificial Intelligence ETF Stock Performance

Shares of FAI traded up $0.63 on Monday, reaching $53.87. The stock had a trading volume of 64,802 shares, compared to its average volume of 40,454. The firm has a market capitalization of $255.88 million, a price-to-earnings ratio of 33.52 and a beta of 2.11. The company has a 50-day simple moving average of $55.27 and a 200-day simple moving average of $48.32. First Trust Bloomberg Artificial Intelligence ETF has a 12-month low of $35.54 and a 12-month high of $59.21.

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.