Short Interest in First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) Expands By 1,574.0%

by · The Markets Daily

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI – Get Free Report) was the target of a large increase in short interest in March. As of March 31st, there was short interest totaling 71,210 shares, an increase of 1,574.0% from the March 15th total of 4,254 shares. Approximately 7.1% of the company’s stock are sold short. Based on an average daily volume of 13,395 shares, the short-interest ratio is presently 5.3 days.

First Trust Bloomberg Artificial Intelligence ETF Price Performance

FAI stock opened at $40.02 on Friday. The stock has a market capitalization of $40.02 million, a P/E ratio of 33.52 and a beta of 1.75. First Trust Bloomberg Artificial Intelligence ETF has a 1-year low of $24.47 and a 1-year high of $44.03. The business has a fifty day moving average price of $39.01 and a 200-day moving average price of $40.49.

Hedge Funds Weigh In On First Trust Bloomberg Artificial Intelligence ETF

A number of hedge funds have recently bought and sold shares of the business. Kestra Advisory Services LLC boosted its holdings in shares of First Trust Bloomberg Artificial Intelligence ETF by 42.3% during 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 last quarter. Centaurus Financial Inc. raised its holdings in shares of First Trust Bloomberg Artificial Intelligence ETF by 10.8% during the third quarter. Centaurus Financial Inc. now owns 55,504 shares of the company’s stock valued at $2,193,000 after purchasing an additional 5,391 shares during the last quarter. Royal Bank of Canada lifted its position in First Trust Bloomberg Artificial Intelligence ETF by 6.5% during the fourth quarter. Royal Bank of Canada now owns 43,902 shares of the company’s stock valued at $1,803,000 after purchasing an additional 2,695 shares during the period. Jane Street Group LLC bought a new position in First Trust Bloomberg Artificial Intelligence ETF during the first quarter valued at approximately $709,000. Finally, Cetera Investment Advisers boosted its holdings in First Trust Bloomberg Artificial Intelligence ETF by 15.4% in the fourth quarter. Cetera Investment Advisers now owns 25,986 shares of the company’s stock worth $1,067,000 after purchasing an additional 3,468 shares during the last quarter.

First Trust Bloomberg Artificial Intelligence ETF Company Profile

(Get Free Report)

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.

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