First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) Sees Large Increase in Short Interest
by Danessa Lincoln · The Markets DailyFirst Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI – Get Free Report) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totaling 10,339 shares, an increase of 316.4% from the November 30th total of 2,483 shares. Based on an average trading volume of 6,488 shares, the days-to-cover ratio is presently 1.6 days. Currently, 1.5% of the shares of the company are short sold. Currently, 1.5% of the shares of the company are short sold. Based on an average trading volume of 6,488 shares, the days-to-cover ratio is presently 1.6 days.
Institutional Trading of First Trust Bloomberg Artificial Intelligence ETF
Institutional investors have recently modified their holdings of the business. Centaurus Financial Inc. raised its position in First Trust Bloomberg Artificial Intelligence ETF by 10.8% in the third quarter. Centaurus Financial Inc. now owns 55,504 shares of the company’s stock worth $2,193,000 after acquiring an additional 5,391 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of First Trust Bloomberg Artificial Intelligence ETF in the 1st quarter valued at about $709,000. Cetera Investment Advisers increased its holdings 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 valued at $665,000 after purchasing an additional 4,175 shares in the last quarter. Redhawk Wealth Advisors Inc. acquired a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF in the third quarter valued at about $630,000. Finally, Kingswood Wealth Advisors LLC boosted its holdings in First Trust Bloomberg Artificial Intelligence ETF by 8.5% during the second quarter. Kingswood Wealth Advisors LLC now owns 15,370 shares of the company’s stock worth $541,000 after buying an additional 1,204 shares in the last quarter.
First Trust Bloomberg Artificial Intelligence ETF Stock Up 0.2%
NYSEARCA FAI traded up $0.08 during trading hours on Friday, hitting $41.54. 6,955 shares of the stock were exchanged, compared to its average volume of 6,686. The company has a market cap of $29.08 million, a price-to-earnings ratio of 33.52 and a beta of 2.01. First Trust Bloomberg Artificial Intelligence ETF has a 12-month low of $22.92 and a 12-month high of $44.03. The stock has a 50-day moving average of $41.38 and a 200 day moving average of $38.59.
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.