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

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 791,535 shares, a growth of 9,515.3% from the September 15th total of 8,232 shares. Based on an average daily volume of 96,304 shares, the days-to-cover ratio is presently 8.2 days. Approximately 18.4% of the shares of the stock are sold short.

First Trust Bloomberg Artificial Intelligence ETF Trading Up 1.2%

First Trust Bloomberg Artificial Intelligence ETF stock traded up $0.68 during trading hours on Friday, reaching $58.36. 48,990 shares of the stock were exchanged, compared to its average volume of 38,597. First Trust Bloomberg Artificial Intelligence ETF has a twelve month low of $35.54 and a twelve month high of $59.21. The company has a market cap of $250.95 million, a P/E ratio of 33.52 and a beta of 2.11. The stock has a 50 day moving average of $54.97 and a two-hundred day moving average of $50.77.

Institutional Trading of First Trust Bloomberg Artificial Intelligence ETF

Several large investors have recently made changes to their positions in the company. Tucker Asset Management LLC acquired a new position in First Trust Bloomberg Artificial Intelligence ETF during the second quarter valued at approximately $100,000. Envestnet Portfolio Solutions Inc. bought a new stake in First Trust Bloomberg Artificial Intelligence ETF during the second quarter worth $239,000. Citadel Advisors LLC acquired a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF in the 2nd quarter valued at $544,000. IFP Advisors Inc acquired a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF in the 2nd quarter valued at $665,000. Finally, Chicago Partners Investment Group LLC boosted its holdings in shares of First Trust Bloomberg Artificial Intelligence ETF by 5.5% in the 1st quarter. Chicago Partners Investment Group LLC now owns 12,887 shares of the company’s stock valued at $479,000 after purchasing an additional 677 shares in the last quarter.

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.