Short Interest in First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) Declines By 29.0%

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) saw a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 4,254 shares, a decline of 29.0% from the February 26th total of 5,990 shares. Currently, 0.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 6,092 shares, the days-to-cover ratio is presently 0.7 days.

First Trust Bloomberg Artificial Intelligence ETF Price Performance

NYSEARCA FAI traded down $0.88 on Friday, reaching $36.12. 4,882 shares of the company’s stock traded hands, compared to its average volume of 8,735. The stock has a market cap of $28.90 million, a PE ratio of 33.52 and a beta of 2.01. First Trust Bloomberg Artificial Intelligence ETF has a 12 month low of $22.92 and a 12 month high of $44.03. The stock has a 50-day simple moving average of $39.77 and a 200 day simple moving average of $40.57.

Hedge Funds Weigh In On First Trust Bloomberg Artificial Intelligence ETF

Large investors have recently added to or reduced their stakes in the business. Redhawk Wealth Advisors Inc. purchased a new position in shares of First Trust Bloomberg Artificial Intelligence ETF in the third quarter worth about $630,000. Centaurus Financial Inc. raised its position in First Trust Bloomberg Artificial Intelligence ETF by 392.5% during the 2nd quarter. Centaurus Financial Inc. now owns 50,113 shares of the company’s stock valued at $1,765,000 after purchasing an additional 39,937 shares during the last quarter. Harbour Investments Inc. lifted its holdings in First Trust Bloomberg Artificial Intelligence ETF by 49.6% in the 4th quarter. Harbour Investments Inc. now owns 2,598 shares of the company’s stock worth $107,000 after buying an additional 861 shares during the period. Integrity Alliance LLC. bought a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF in the 4th quarter worth approximately $228,000. Finally, RPS Advisory Solutions LLC bought a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF in the 4th quarter worth approximately $785,000.

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.