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

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) was the recipient of a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 33,568 shares, an increase of 50.7% from the July 30th total of 22,279 shares. Based on an average daily trading volume, of 31,656 shares, the short-interest ratio is currently 1.1 days. Approximately 1.1% of the shares of the company are sold short.

First Trust Bloomberg Artificial Intelligence ETF Stock Performance

Shares of First Trust Bloomberg Artificial Intelligence ETF stock opened at $53.19 on Wednesday. The company has a market cap of $167.55 million, a P/E ratio of 33.52 and a beta of 2.13. First Trust Bloomberg Artificial Intelligence ETF has a one year low of $35.54 and a one year high of $58.27. The firm has a fifty day moving average of $52.42 and a two-hundred day moving average of $47.62.

Institutional Investors Weigh In On First Trust Bloomberg Artificial Intelligence ETF

A number of hedge funds have recently added to or reduced their stakes in FAI. Jane Street Group LLC acquired a new position in First Trust Bloomberg Artificial Intelligence ETF during the 1st quarter worth approximately $709,000. Cetera Investment Advisers raised its position in 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 in the last quarter. Osaic Holdings Inc. lifted its holdings in 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 acquiring an additional 9,140 shares during the period. Envestnet Asset Management Inc. purchased a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF during the 3rd quarter worth $219,000. Finally, Advisory Services Network LLC acquired a new position in shares of First Trust Bloomberg Artificial Intelligence ETF during the 3rd quarter worth $88,000.

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.