First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) Short Interest Down 29.0% in March

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) saw a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 4,254 shares, a decrease of 29.0% from the February 26th total of 5,990 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average trading volume of 6,092 shares, the days-to-cover ratio is currently 0.7 days.

First Trust Bloomberg Artificial Intelligence ETF Trading Down 2.4%

Shares of First Trust Bloomberg Artificial Intelligence ETF stock traded down $0.88 during trading hours on Friday, reaching $36.12. The stock had a trading volume of 4,882 shares, compared to its average volume of 8,735. The firm has a market capitalization of $28.90 million, a price-to-earnings ratio of 33.52 and a beta of 2.01. First Trust Bloomberg Artificial Intelligence ETF has a 1 year low of $22.92 and a 1 year high of $44.03. The firm has a 50 day simple moving average of $39.77 and a two-hundred day simple moving average of $40.57.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Centaurus Financial Inc. grew its stake in First Trust Bloomberg Artificial Intelligence ETF by 392.5% during the second quarter. Centaurus Financial Inc. now owns 50,113 shares of the company’s stock worth $1,765,000 after buying an additional 39,937 shares during the period. Kestra Advisory Services LLC raised its stake in shares of First Trust Bloomberg Artificial Intelligence ETF by 42.3% in the 4th quarter. Kestra Advisory Services LLC now owns 106,920 shares of the company’s stock valued at $4,391,000 after acquiring an additional 31,809 shares during the period. Jane Street Group LLC acquired a new position in shares of First Trust Bloomberg Artificial Intelligence ETF during the 1st quarter valued at $709,000. RPS Advisory Solutions LLC acquired a new position in shares of First Trust Bloomberg Artificial Intelligence ETF during the 4th quarter valued at $785,000. Finally, Redhawk Wealth Advisors Inc. purchased a new stake in First Trust Bloomberg Artificial Intelligence ETF during the 3rd quarter worth $630,000.

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.