Short Interest in First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) Drops By 70.7%

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totaling 20,883 shares, a drop of 70.7% from the March 31st total of 71,210 shares. Currently, 2.0% of the company’s shares are sold short. Based on an average daily volume of 7,548 shares, the days-to-cover ratio is currently 2.8 days.

First Trust Bloomberg Artificial Intelligence ETF Trading Up 3.1%

Shares of NYSEARCA FAI opened at $45.80 on Friday. The stock has a market capitalization of $48.09 million, a PE ratio of 33.52 and a beta of 1.75. The stock’s fifty day simple moving average is $39.81 and its two-hundred day simple moving average is $40.75. First Trust Bloomberg Artificial Intelligence ETF has a 12-month low of $27.48 and a 12-month high of $45.85.

Institutional Trading of First Trust Bloomberg Artificial Intelligence ETF

A number of institutional investors have recently made changes to their positions in FAI. Jane Street Group LLC acquired a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF in the 1st quarter worth $709,000. Cetera Investment Advisers boosted its position in shares of First Trust Bloomberg Artificial Intelligence ETF by 28.4% in the 2nd quarter. Cetera Investment Advisers now owns 18,865 shares of the company’s stock worth $665,000 after purchasing an additional 4,175 shares in the last quarter. Osaic Holdings Inc. boosted its position in shares of First Trust Bloomberg Artificial Intelligence ETF by 517.3% in the 2nd quarter. Osaic Holdings Inc. now owns 10,907 shares of the company’s stock worth $384,000 after purchasing an additional 9,140 shares in the last quarter. CoreCap Advisors LLC acquired a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF in the 3rd quarter worth $56,000. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF in the 3rd quarter worth $219,000.

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.