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

First Trust Bloomberg Artificial Intelligence ETF (NYSEARCA:FAI) was the recipient of a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 22,512 shares, a drop of 98.4% from the June 30th total of 1,389,759 shares. Approximately 0.7% of the shares of the stock are short sold. Based on an average daily volume of 90,419 shares, the short-interest ratio is presently 0.2 days.

First Trust Bloomberg Artificial Intelligence ETF Stock Performance

NYSEARCA FAI traded down $0.85 during trading on Friday, reaching $48.69. 10,792 shares of the company traded hands, compared to its average volume of 34,740. First Trust Bloomberg Artificial Intelligence ETF has a 1-year low of $35.54 and a 1-year high of $58.27. The company has a market cap of $150.94 million, a price-to-earnings ratio of 33.52 and a beta of 2.08. The stock’s 50 day moving average price is $52.58 and its two-hundred day moving average price is $45.37.

Institutional Trading of First Trust Bloomberg Artificial Intelligence ETF

Several institutional investors have recently bought and sold shares of the stock. Centaurus Financial Inc. grew its position in First Trust Bloomberg Artificial Intelligence ETF by 0.7% in the first quarter. Centaurus Financial Inc. now owns 46,351 shares of the company’s stock valued at $1,724,000 after acquiring an additional 333 shares during the period. Cetera Investment Advisers lifted its holdings in shares of First Trust Bloomberg Artificial Intelligence ETF by 8.6% during the first quarter. Cetera Investment Advisers now owns 28,224 shares of the company’s stock valued at $1,050,000 after acquiring an additional 2,238 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in shares of First Trust Bloomberg Artificial Intelligence ETF by 5.5% during the first quarter. Chicago Partners Investment Group LLC now owns 12,887 shares of the company’s stock valued at $479,000 after acquiring an additional 677 shares during the period. Kestra Advisory Services LLC boosted its stake in shares of First Trust Bloomberg Artificial Intelligence ETF by 24.5% in the 1st quarter. Kestra Advisory Services LLC now owns 133,131 shares of the company’s stock valued at $4,952,000 after purchasing an additional 26,211 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of First Trust Bloomberg Artificial Intelligence ETF by 6.5% in the 4th quarter. Royal Bank of Canada now owns 43,902 shares of the company’s stock valued at $1,803,000 after purchasing an additional 2,695 shares in the last quarter.

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.