First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) Short Interest Up 6,233.5% in June

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) saw a large increase in short interest in June. As of June 30th, there was short interest totaling 1,389,759 shares, an increase of 6,233.5% from the June 15th total of 21,943 shares. Based on an average daily trading volume, of 150,931 shares, the short-interest ratio is currently 9.2 days. Approximately 47.9% of the company’s stock are sold short.

Institutional Investors Weigh In On First Trust Bloomberg Artificial Intelligence ETF

Several institutional investors have recently modified their holdings of the business. BankPlus Trust Department purchased a new position in shares of First Trust Bloomberg Artificial Intelligence ETF in the 4th quarter worth $25,000. International Assets Investment Management LLC purchased a new stake in First Trust Bloomberg Artificial Intelligence ETF during the fourth quarter valued at $33,000. Arax Advisory Partners bought a new position in First Trust Bloomberg Artificial Intelligence ETF in the fourth quarter valued at about $33,000. Advisory Services Network LLC bought a new position in First Trust Bloomberg Artificial Intelligence ETF in the third quarter valued at about $88,000. Finally, Harbour Investments Inc. boosted its position in First Trust Bloomberg Artificial Intelligence ETF by 49.6% in the fourth quarter. Harbour Investments Inc. now owns 2,598 shares of the company’s stock worth $107,000 after purchasing an additional 861 shares during the last quarter.

First Trust Bloomberg Artificial Intelligence ETF Stock Down 0.4%

First Trust Bloomberg Artificial Intelligence ETF stock traded down $0.22 during trading hours on Friday, hitting $52.94. The stock had a trading volume of 21,716 shares, compared to its average volume of 33,232. The stock has a market capitalization of $161.47 million, a P/E ratio of 33.52 and a beta of 2.08. First Trust Bloomberg Artificial Intelligence ETF has a 12-month low of $35.03 and a 12-month high of $58.27. The stock’s 50-day moving average price is $52.37 and its 200-day moving average price is $44.72.

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.