Sowell Financial Services LLC Makes New $642,000 Investment in First Trust Bloomberg Artificial Intelligence ETF $FAI

Sowell Financial Services LLC bought a new position in shares of First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,335 shares of the company’s stock, valued at approximately $642,000. Sowell Financial Services LLC owned about 0.24% of First Trust Bloomberg Artificial Intelligence ETF at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FAI. Brookstone Capital Management acquired a new stake in First Trust Bloomberg Artificial Intelligence ETF in the 3rd quarter valued at $215,000. Iams Wealth Management LLC bought a new stake in First Trust Bloomberg Artificial Intelligence ETF during the 3rd quarter worth about $1,446,000. 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. Envestnet Portfolio Solutions Inc. acquired a new position in shares of First Trust Bloomberg Artificial Intelligence ETF during the 2nd quarter worth about $239,000. Finally, 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.

First Trust Bloomberg Artificial Intelligence ETF Price Performance

Shares of NYSEARCA FAI opened at $49.79 on Tuesday. The business has a 50-day moving average of $55.18 and a 200-day moving average of $48.65. The stock has a market capitalization of $238.99 million, a price-to-earnings ratio of 33.52 and a beta of 2.11. First Trust Bloomberg Artificial Intelligence ETF has a fifty-two week low of $35.54 and a fifty-two week high of $59.21.

First Trust Bloomberg Artificial Intelligence ETF 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.