First Trust S&P REIT Index Fund (NYSEARCA:FRI) Sees Large Drop in Short Interest

First Trust S&P REIT Index Fund (NYSEARCA:FRI) was the recipient of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totaling 2,054 shares, a decrease of 87.9% from the May 31st total of 17,027 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 20,404 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Investors Weigh In On First Trust S&P REIT Index Fund

Several institutional investors and hedge funds have recently modified their holdings of FRI. Western Wealth Management LLC purchased a new stake in First Trust S&P REIT Index Fund in the first quarter worth about $67,000. Gateway Wealth Partners LLC purchased a new stake in First Trust S&P REIT Index Fund in the first quarter worth $308,000. Cetera Investment Advisers raised its holdings in First Trust S&P REIT Index Fund by 0.5% in the first quarter. Cetera Investment Advisers now owns 497,818 shares of the company’s stock worth $14,168,000 after purchasing an additional 2,350 shares in the last quarter. Fifth Third Bancorp purchased a new position in First Trust S&P REIT Index Fund during the first quarter valued at $171,000. Finally, Kestra Advisory Services LLC boosted its holdings in shares of First Trust S&P REIT Index Fund by 27.7% during the 1st quarter. Kestra Advisory Services LLC now owns 9,761 shares of the company’s stock valued at $278,000 after buying an additional 2,118 shares in the last quarter.

First Trust S&P REIT Index Fund Trading Up 0.8%

Shares of FRI stock traded up $0.26 during mid-day trading on Friday, reaching $32.10. The stock had a trading volume of 12,048 shares, compared to its average volume of 27,351. First Trust S&P REIT Index Fund has a 52-week low of $26.50 and a 52-week high of $32.13. The firm has a market capitalization of $171.74 million, a PE ratio of 35.23 and a beta of 0.96. The stock’s 50-day moving average price is $30.98 and its two-hundred day moving average price is $29.42.

About First Trust S&P REIT Index Fund

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. The Index contains securities selected for market representation according to geography and property type. All securities in the Index satisfy the Index’s liquidity, price and market capitalization requirements.