First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) Short Interest Up 302.2% in August

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 134,998 shares, a growth of 302.2% from the August 15th total of 33,568 shares. Currently, 4.3% of the company’s shares are sold short. Based on an average trading volume of 30,442 shares, the days-to-cover ratio is currently 4.4 days.

First Trust Bloomberg Artificial Intelligence ETF Price Performance

First Trust Bloomberg Artificial Intelligence ETF stock opened at $54.39 on Friday. The company has a market cap of $171.33 million, a price-to-earnings ratio of 33.52 and a beta of 2.13. First Trust Bloomberg Artificial Intelligence ETF has a 12 month low of $35.54 and a 12 month high of $58.27. The stock’s 50-day moving average is $52.72 and its 200-day moving average is $48.41.

Institutional Trading of First Trust Bloomberg Artificial Intelligence ETF

A number of institutional investors and hedge funds have recently bought and sold shares of FAI. Bullseye Investment Management LLC acquired a new position in First Trust Bloomberg Artificial Intelligence ETF during the second quarter valued at approximately $8,062,000. RFG Advisory LLC acquired a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF in the second quarter worth $959,000. IFP Advisors Inc acquired a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF in the second quarter worth $665,000. Citadel Advisors LLC purchased a new position in shares of First Trust Bloomberg Artificial Intelligence ETF in the 2nd quarter valued at $544,000. Finally, Tucker Asset Management LLC purchased a new position in shares of First Trust Bloomberg Artificial Intelligence ETF in the 2nd quarter valued at $100,000.

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.