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

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) was the recipient of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 1,389,759 shares, a growth of 6,233.5% from the June 15th total of 21,943 shares. Based on an average trading volume of 150,931 shares, the days-to-cover ratio is presently 9.2 days. Currently, 47.9% of the company’s shares are short sold.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF in the 1st quarter worth about $709,000. Cetera Investment Advisers boosted its stake in First Trust Bloomberg Artificial Intelligence ETF by 28.4% during the 2nd quarter. Cetera Investment Advisers now owns 18,865 shares of the company’s stock valued at $665,000 after purchasing an additional 4,175 shares during the period. Osaic Holdings Inc. grew its position in 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 during the last quarter. Envestnet Asset Management Inc. bought a new position in First Trust Bloomberg Artificial Intelligence ETF in the 3rd quarter worth about $219,000. Finally, Advisory Services Network LLC acquired a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF in the third quarter valued at approximately $88,000.

First Trust Bloomberg Artificial Intelligence ETF Trading Down 0.4%

FAI stock traded down $0.22 during trading on Friday, reaching $52.94. The stock had a trading volume of 21,716 shares, compared to its average volume of 33,232. The firm has a fifty day moving average price of $52.37 and a 200 day moving average price of $44.72. The company has a market capitalization of $153.53 million, a P/E ratio of 33.52 and a beta of 2.08. First Trust Bloomberg Artificial Intelligence ETF has a 1-year low of $35.03 and a 1-year high of $58.27.

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.