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

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totaling 116,897 shares, an increase of 383.9% from the April 30th total of 24,158 shares. Based on an average trading volume of 45,012 shares, the days-to-cover ratio is currently 2.6 days. Approximately 11.1% of the company’s shares are short sold.

Hedge Funds Weigh In On First Trust Bloomberg Artificial Intelligence ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. RPS Advisory Solutions LLC bought a new position in First Trust Bloomberg Artificial Intelligence ETF in the fourth quarter valued at approximately $785,000. Cetera Investment Advisers boosted its stake in First Trust Bloomberg Artificial Intelligence ETF by 8.6% in the first quarter. Cetera Investment Advisers now owns 28,224 shares of the company’s stock valued at $1,050,000 after acquiring an additional 2,238 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in First Trust Bloomberg Artificial Intelligence ETF by 5.5% in the first quarter. Chicago Partners Investment Group LLC now owns 12,887 shares of the company’s stock valued at $479,000 after acquiring an additional 677 shares during the last quarter. Kestra Advisory Services LLC boosted its stake in First Trust Bloomberg Artificial Intelligence ETF by 24.5% in the first quarter. Kestra Advisory Services LLC now owns 133,131 shares of the company’s stock valued at $4,952,000 after acquiring an additional 26,211 shares during the last quarter. Finally, Integrity Alliance LLC. bought a new position in First Trust Bloomberg Artificial Intelligence ETF in the fourth quarter valued at approximately $228,000.

First Trust Bloomberg Artificial Intelligence ETF Stock Performance

Shares of FAI stock opened at $54.50 on Friday. First Trust Bloomberg Artificial Intelligence ETF has a 52-week low of $31.45 and a 52-week high of $54.77. The stock has a market cap of $57.23 million, a PE ratio of 33.52 and a beta of 1.92. The firm’s 50 day moving average price is $44.39 and its two-hundred day moving average price is $41.99.

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.