First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI – Get Free Report) was the target of a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 1,389,759 shares, a growth of 6,233.5% from the June 15th total of 21,943 shares. Based on an average daily trading volume, of 150,931 shares, the short-interest ratio is presently 9.2 days. Currently, 47.9% of the shares of the company are sold short.
First Trust Bloomberg Artificial Intelligence ETF Stock Down 0.4%
Shares of FAI traded down $0.22 during trading hours on Friday, reaching $52.94. 21,716 shares of the company traded hands, compared to its average volume of 33,232. The stock has a market capitalization of $153.53 million, a P/E ratio of 33.52 and a beta of 2.08. First Trust Bloomberg Artificial Intelligence ETF has a 12-month low of $35.03 and a 12-month high of $58.27. The business has a fifty day moving average price of $52.37 and a 200-day moving average price of $44.72.
Institutional Trading of First Trust Bloomberg Artificial Intelligence ETF
Large investors have recently added to or reduced their stakes in the company. Centaurus Financial Inc. lifted its holdings in shares of First Trust Bloomberg Artificial Intelligence ETF by 0.7% during the first quarter. Centaurus Financial Inc. now owns 46,351 shares of the company’s stock worth $1,724,000 after purchasing an additional 333 shares during the period. Cetera Investment Advisers raised its position in First Trust Bloomberg Artificial Intelligence ETF by 8.6% during the 1st quarter. Cetera Investment Advisers now owns 28,224 shares of the company’s stock worth $1,050,000 after buying an additional 2,238 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in First Trust Bloomberg Artificial Intelligence ETF by 5.5% during the 1st quarter. Chicago Partners Investment Group LLC now owns 12,887 shares of the company’s stock worth $479,000 after buying an additional 677 shares during the last quarter. Kestra Advisory Services LLC lifted its stake 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 valued at $4,952,000 after acquiring an additional 26,211 shares during the period. Finally, Royal Bank of Canada lifted its stake in First Trust Bloomberg Artificial Intelligence ETF by 6.5% during the 4th quarter. Royal Bank of Canada now owns 43,902 shares of the company’s stock valued at $1,803,000 after acquiring an additional 2,695 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.
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