Royal Bank of Canada Sells 34,844 Shares of First Trust Bloomberg Artificial Intelligence ETF $FAI

Royal Bank of Canada lessened its stake in shares of First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) by 79.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,058 shares of the company’s stock after selling 34,844 shares during the quarter. Royal Bank of Canada owned about 0.86% of First Trust Bloomberg Artificial Intelligence ETF worth $337,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in shares of First Trust Bloomberg Artificial Intelligence ETF in the 4th quarter valued at approximately $33,000. Arax Advisory Partners bought a new stake in First Trust Bloomberg Artificial Intelligence ETF during the fourth quarter worth approximately $33,000. Advisory Services Network LLC bought a new stake in First Trust Bloomberg Artificial Intelligence ETF during the third quarter worth approximately $88,000. Harbour Investments Inc. grew its holdings in First Trust Bloomberg Artificial Intelligence ETF by 49.6% during the fourth quarter. Harbour Investments Inc. now owns 2,598 shares of the company’s stock valued at $107,000 after purchasing an additional 861 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new position in First Trust Bloomberg Artificial Intelligence ETF during the fourth quarter valued at approximately $157,000.

First Trust Bloomberg Artificial Intelligence ETF Stock Up 0.2%

NYSEARCA:FAI opened at $53.53 on Thursday. First Trust Bloomberg Artificial Intelligence ETF has a 12 month low of $35.54 and a 12 month high of $58.27. The firm has a market cap of $168.62 million, a price-to-earnings ratio of 33.52 and a beta of 2.12. The company’s 50 day moving average is $52.42 and its 200-day moving average is $47.21.

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.