First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) Stock Short Interest Drops 93.9%

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) was the recipient of a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 8,232 shares, a decline of 93.9% from the August 31st total of 134,998 shares. Based on an average daily volume of 21,465 shares, the short-interest ratio is currently 0.4 days. Approximately 0.2% of the company’s shares are short sold.

First Trust Bloomberg Artificial Intelligence ETF Stock Performance

FAI traded up $0.30 during mid-day trading on Friday, reaching $57.09. The stock had a trading volume of 113,332 shares, compared to its average volume of 33,540. The firm’s fifty day simple moving average is $53.32 and its two-hundred day simple moving average is $49.49. The stock has a market capitalization of $199.83 million, a P/E ratio of 33.52 and a beta of 2.13. First Trust Bloomberg Artificial Intelligence ETF has a 52 week low of $35.54 and a 52 week high of $58.27.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. acquired a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF during the 2nd quarter worth approximately $12,763,000. Bullseye Investment Management LLC bought a new position in First Trust Bloomberg Artificial Intelligence ETF in the second quarter valued at approximately $8,062,000. Kestra Advisory Services LLC grew its holdings in First Trust Bloomberg Artificial Intelligence ETF by 24.5% during the 1st quarter. Kestra Advisory Services LLC now owns 133,131 shares of the company’s stock worth $4,952,000 after acquiring an additional 26,211 shares during the period. Centaurus Financial Inc. raised its position in shares of First Trust Bloomberg Artificial Intelligence ETF by 0.7% during the 1st quarter. Centaurus Financial Inc. now owns 46,351 shares of the company’s stock valued at $1,724,000 after acquiring an additional 333 shares during the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of First Trust Bloomberg Artificial Intelligence ETF by 8.6% in the 1st quarter. Cetera Investment Advisers now owns 28,224 shares of the company’s stock valued at $1,050,000 after purchasing an additional 2,238 shares during the period.

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.