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

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) was the recipient of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 3,856 shares, an increase of 103.5% from the January 15th total of 1,895 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average daily trading volume, of 7,240 shares, the days-to-cover ratio is currently 0.5 days. Based on an average daily trading volume, of 7,240 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.5% of the company’s shares are sold short.

Institutional Investors Weigh In On First Trust Bloomberg Artificial Intelligence ETF

Several hedge funds have recently bought and sold shares of the stock. Redhawk Wealth Advisors Inc. purchased a new position in First Trust Bloomberg Artificial Intelligence ETF in the third quarter valued at $630,000. Centaurus Financial Inc. boosted its stake in shares of 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 worth $1,765,000 after acquiring an additional 39,937 shares in the last quarter. Harbour Investments Inc. grew its position in shares of First Trust Bloomberg Artificial Intelligence ETF by 49.6% during the 4th quarter. Harbour Investments Inc. now owns 2,598 shares of the company’s stock valued at $107,000 after acquiring an additional 861 shares during the period. RPS Advisory Solutions LLC purchased a new position in shares of First Trust Bloomberg Artificial Intelligence ETF in the 4th quarter valued at about $785,000. Finally, International Assets Investment Management LLC purchased a new position in shares of First Trust Bloomberg Artificial Intelligence ETF in the 4th quarter valued at about $33,000.

First Trust Bloomberg Artificial Intelligence ETF Stock Performance

Shares of FAI stock opened at $39.20 on Friday. First Trust Bloomberg Artificial Intelligence ETF has a 52-week low of $22.92 and a 52-week high of $44.03. The firm has a market capitalization of $31.36 million, a P/E ratio of 33.52 and a beta of 2.01. The stock has a 50 day moving average price of $41.19 and a 200 day moving average price of $40.14.

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.