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

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) was the target of a large 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 shares are sold short. 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 shares are sold short.

Institutional Trading of First Trust Bloomberg Artificial Intelligence ETF

Institutional investors have recently modified their holdings of the business. Kingswood Wealth Advisors LLC raised its position in First Trust Bloomberg Artificial Intelligence ETF by 8.5% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 15,370 shares of the company’s stock worth $541,000 after purchasing an additional 1,204 shares during the last quarter. CoreCap Advisors LLC acquired a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF in the third quarter valued at about $56,000. Advisory Services Network LLC bought a new position in shares of First Trust Bloomberg Artificial Intelligence ETF during the third quarter worth about $88,000. Cetera Investment Advisers lifted its stake in shares of First Trust Bloomberg Artificial Intelligence ETF by 28.4% in the second quarter. Cetera Investment Advisers now owns 18,865 shares of the company’s stock worth $665,000 after acquiring an additional 4,175 shares during the period. Finally, Centaurus Financial Inc. lifted its stake in shares of First Trust Bloomberg Artificial Intelligence ETF by 10.8% in the third quarter. Centaurus Financial Inc. now owns 55,504 shares of the company’s stock worth $2,193,000 after acquiring an additional 5,391 shares during the period.

First Trust Bloomberg Artificial Intelligence ETF Trading Up 0.5%

NYSEARCA:FAI traded up $0.19 during mid-day trading on Monday, hitting $42.37. 2,248 shares of the company’s stock were exchanged, compared to its average volume of 10,650. First Trust Bloomberg Artificial Intelligence ETF has a fifty-two week low of $22.92 and a fifty-two week high of $44.03. The firm has a market capitalization of $33.90 million, a P/E ratio of 33.52 and a beta of 2.01. The company has a 50 day simple moving average of $41.21 and a 200-day simple moving average of $39.28.

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.