First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) Sees Large Decline in Short Interest

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 449 shares, a drop of 95.7% from the December 15th total of 10,339 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 7,049 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily trading volume, of 7,049 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the company’s stock are short sold.

First Trust Bloomberg Artificial Intelligence ETF Trading Up 0.5%

NYSEARCA FAI traded up $0.19 during trading hours on Monday, hitting $42.37. The company’s stock had a trading volume of 2,248 shares, compared to its average volume of 10,650. First Trust Bloomberg Artificial Intelligence ETF has a 52 week low of $22.92 and a 52 week high of $44.03. The company has a market capitalization of $33.90 million, a PE ratio of 33.52 and a beta of 2.01. The company’s 50-day simple moving average is $41.21 and its two-hundred day simple moving average is $39.28.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Centaurus Financial Inc. raised its position in First Trust Bloomberg Artificial Intelligence ETF by 392.5% in the 2nd quarter. Centaurus Financial Inc. now owns 50,113 shares of the company’s stock valued at $1,765,000 after buying an additional 39,937 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF in the 1st quarter worth $709,000. Redhawk Wealth Advisors Inc. bought a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF in the 3rd quarter worth $630,000. Osaic Holdings Inc. raised its holdings in shares of First Trust Bloomberg Artificial Intelligence ETF by 517.3% in the second quarter. Osaic Holdings Inc. now owns 10,907 shares of the company’s stock valued at $384,000 after purchasing an additional 9,140 shares during the last quarter. Finally, Envestnet Asset Management Inc. bought a new position in shares of First Trust Bloomberg Artificial Intelligence ETF during the third quarter valued at about $219,000.

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.