First Trust Nasdaq Artificial Intelligence and Robotics ETF (NASDAQ:ROBT) Sees Large Drop in Short Interest

First Trust Nasdaq Artificial Intelligence and Robotics ETF (NASDAQ:ROBT) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 26,700 shares, a drop of 19.6% from the October 15th total of 33,200 shares. Based on an average trading volume of 56,900 shares, the short-interest ratio is currently 0.5 days.

First Trust Nasdaq Artificial Intelligence and Robotics ETF Stock Performance

Shares of ROBT traded down $0.70 during mid-day trading on Friday, reaching $44.80. 60,828 shares of the company’s stock traded hands, compared to its average volume of 70,360. The stock has a market capitalization of $445.76 million, a P/E ratio of 29.47 and a beta of 1.22. First Trust Nasdaq Artificial Intelligence and Robotics ETF has a 12 month low of $36.91 and a 12 month high of $47.64. The business’s 50-day moving average price is $43.72 and its 200-day moving average price is $42.90.

Hedge Funds Weigh In On First Trust Nasdaq Artificial Intelligence and Robotics ETF

A number of hedge funds have recently added to or reduced their stakes in the company. Brown Financial Advisors bought a new stake in First Trust Nasdaq Artificial Intelligence and Robotics ETF during the second quarter worth approximately $40,000. Values First Advisors Inc. acquired a new position in shares of First Trust Nasdaq Artificial Intelligence and Robotics ETF in the third quarter valued at $43,000. Adirondack Trust Co. acquired a new position in shares of First Trust Nasdaq Artificial Intelligence and Robotics ETF in the second quarter valued at $49,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of First Trust Nasdaq Artificial Intelligence and Robotics ETF in the second quarter valued at $80,000. Finally, Front Row Advisors LLC raised its stake in shares of First Trust Nasdaq Artificial Intelligence and Robotics ETF by 34.3% in the second quarter. Front Row Advisors LLC now owns 2,155 shares of the company’s stock valued at $91,000 after purchasing an additional 550 shares in the last quarter.

First Trust Nasdaq Artificial Intelligence and Robotics ETF Company Profile

The First Trust Nasdaq Artificial Intelligence and Robotics ETF (ROBT) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a modified equal-weighted index of all-cap, global companies involved in artificial intelligence or robotics. ROBT was launched on Feb 21, 2018 and is managed by First Trust.