First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) Short Interest Up 6,233.5% in June

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) was the target of a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 1,389,759 shares, an increase of 6,233.5% from the June 15th total of 21,943 shares. Based on an average daily volume of 150,931 shares, the short-interest ratio is presently 9.2 days. Approximately 47.9% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FAI. Kestra Advisory Services LLC grew its stake in First Trust Bloomberg Artificial Intelligence ETF by 42.3% in the fourth quarter. Kestra Advisory Services LLC now owns 106,920 shares of the company’s stock valued at $4,391,000 after purchasing an additional 31,809 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF during the 1st quarter worth about $709,000. RPS Advisory Solutions LLC acquired a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF during the 4th quarter valued at about $785,000. Osaic Holdings Inc. lifted its holdings in shares of First Trust Bloomberg Artificial Intelligence ETF by 517.3% during the 2nd quarter. Osaic Holdings Inc. now owns 10,907 shares of the company’s stock valued at $384,000 after buying an additional 9,140 shares during the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV bought a new stake in shares of First Trust Bloomberg Artificial Intelligence ETF in the 4th quarter valued at approximately $348,000.

First Trust Bloomberg Artificial Intelligence ETF Stock Performance

Shares of NYSEARCA:FAI traded down $0.22 during midday trading on Friday, reaching $52.94. The company had a trading volume of 21,716 shares, compared to its average volume of 33,232. The company has a fifty day simple moving average of $52.37 and a two-hundred day simple moving average of $44.72. The firm has a market cap of $153.53 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 $35.03 and a 1-year high of $58.27.

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.