Short Interest in First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) Rises By 302.2%

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 134,998 shares, a growth of 302.2% from the August 15th total of 33,568 shares. Currently, 4.3% of the shares of the stock are sold short. Based on an average trading volume of 30,442 shares, the short-interest ratio is currently 4.4 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Bullseye Investment Management LLC purchased a new position in shares of First Trust Bloomberg Artificial Intelligence ETF in the second quarter worth $8,062,000. RFG Advisory LLC bought a new position in shares of First Trust Bloomberg Artificial Intelligence ETF during the second quarter valued at about $959,000. IFP Advisors Inc bought a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF in the second quarter worth about $665,000. Citadel Advisors LLC bought a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF in the second quarter worth about $544,000. Finally, Tucker Asset Management LLC bought a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF in the second quarter worth about $100,000.

First Trust Bloomberg Artificial Intelligence ETF Price Performance

Shares of First Trust Bloomberg Artificial Intelligence ETF stock opened at $54.39 on Monday. The company has a 50 day simple moving average of $52.72 and a two-hundred day simple moving average of $48.47. The firm has a market cap of $171.33 million, a PE ratio of 33.52 and a beta of 2.13. First Trust Bloomberg Artificial Intelligence ETF has a 1 year low of $35.54 and a 1 year high of $58.27.

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.