First Trust S&P REIT Index Fund (NYSEARCA:FRI) Trading Down 1.3% – Here’s Why

First Trust S&P REIT Index Fund (NYSEARCA:FRI) shares were down 1.3% on Wednesday . The stock traded as low as $27.18 and last traded at $27.33. Approximately 34,574 shares changed hands during trading, a decline of 59% from the average daily volume of 84,660 shares. The stock had previously closed at $27.70.

First Trust S&P REIT Index Fund Price Performance

The stock has a market capitalization of $122.99 million, a price-to-earnings ratio of 27.98 and a beta of 1.01. The business’s fifty day moving average price is $28.04 and its 200-day moving average price is $28.46.

Hedge Funds Weigh In On First Trust S&P REIT Index Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FRI. Private Advisor Group LLC purchased a new position in shares of First Trust S&P REIT Index Fund during the third quarter worth approximately $218,000. Private Trust Co. NA boosted its holdings in First Trust S&P REIT Index Fund by 3.7% in the third quarter. Private Trust Co. NA now owns 10,603 shares of the company’s stock valued at $314,000 after acquiring an additional 374 shares in the last quarter. Maia Wealth LLC bought a new stake in First Trust S&P REIT Index Fund in the third quarter valued at $370,000. L.M. Kohn & Company bought a new stake in First Trust S&P REIT Index Fund in the third quarter valued at $400,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in First Trust S&P REIT Index Fund by 5.9% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 24,375 shares of the company’s stock valued at $722,000 after acquiring an additional 1,356 shares in the last quarter.

First Trust S&P REIT Index Fund Company Profile

First Trust S&P REIT Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the S&P United States REIT Index (the Index). The Index measures the securitized United States real estate investment trust (REIT) market and maintains a constituency that reflects the composition of the overall REIT market.