Sowell Financial Services LLC Makes New Investment in First Trust Bloomberg Artificial Intelligence ETF $FAI

Sowell Financial Services LLC purchased a new position in shares of First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 11,335 shares of the company’s stock, valued at approximately $642,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. bought a new position in shares of First Trust Bloomberg Artificial Intelligence ETF in the 2nd quarter valued at about $12,763,000. Bullseye Investment Management LLC acquired a new position in shares of First Trust Bloomberg Artificial Intelligence ETF during the 2nd quarter worth about $8,062,000. Castle Rock Wealth Management LLC acquired a new position in shares of First Trust Bloomberg Artificial Intelligence ETF during the 3rd quarter worth about $2,986,000. Kestra Advisory Services LLC raised its holdings in shares of First Trust Bloomberg Artificial Intelligence ETF by 24.5% in 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 period. Finally, Iams Wealth Management LLC bought a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF in the 3rd quarter valued at about $1,446,000.

First Trust Bloomberg Artificial Intelligence ETF Stock Performance

Shares of FAI stock opened at $49.79 on Tuesday. First Trust Bloomberg Artificial Intelligence ETF has a 52-week low of $35.54 and a 52-week high of $59.21. The stock has a market cap of $238.99 million, a price-to-earnings ratio of 33.52 and a beta of 2.11. The firm’s 50-day moving average is $55.18 and its 200-day moving average is $48.65.

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.