First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) Short Interest Down 98.4% in July

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) saw a significant decrease in short interest during the month of July. As of July 15th, there was short interest totaling 22,512 shares, a decrease of 98.4% from the June 30th total of 1,389,759 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average trading volume of 90,419 shares, the days-to-cover ratio is currently 0.2 days.

First Trust Bloomberg Artificial Intelligence ETF Trading Down 1.7%

Shares of First Trust Bloomberg Artificial Intelligence ETF stock traded down $0.85 during trading hours on Friday, reaching $48.69. The stock had a trading volume of 10,792 shares, compared to its average volume of 34,740. The firm has a market capitalization of $150.94 million, a price-to-earnings ratio of 33.52 and a beta of 2.08. First Trust Bloomberg Artificial Intelligence ETF has a 1 year low of $35.54 and a 1 year high of $58.27. The firm has a 50 day simple moving average of $52.58 and a two-hundred day simple moving average of $45.39.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. RPS Advisory Solutions LLC purchased a new position in shares of First Trust Bloomberg Artificial Intelligence ETF in the 4th quarter valued at $785,000. Kestra Advisory Services LLC boosted its position 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 purchasing an additional 26,211 shares during the period. Cetera Investment Advisers increased its holdings in 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 in the last quarter. Chicago Partners Investment Group LLC increased its holdings in First Trust Bloomberg Artificial Intelligence ETF by 5.5% in the 1st quarter. Chicago Partners Investment Group LLC now owns 12,887 shares of the company’s stock valued at $479,000 after purchasing an additional 677 shares in the last quarter. Finally, Arax Advisory Partners purchased a new position in First Trust Bloomberg Artificial Intelligence ETF in the fourth quarter valued at about $33,000.

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.