Short Interest in First Trust S&P REIT Index Fund (NYSEARCA:FRI) Drops By 68.9%

First Trust S&P REIT Index Fund (NYSEARCA:FRI) was the recipient of a large decline in short interest in May. As of May 29th, there was short interest totaling 17,027 shares, a decline of 68.9% from the May 14th total of 54,662 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average daily volume of 21,060 shares, the short-interest ratio is currently 0.8 days.

First Trust S&P REIT Index Fund Stock Performance

NYSEARCA:FRI traded up $0.11 on Thursday, hitting $31.62. The stock had a trading volume of 9,445 shares, compared to its average volume of 28,127. First Trust S&P REIT Index Fund has a 1 year low of $26.50 and a 1 year high of $31.76. The firm’s fifty day simple moving average is $30.49 and its two-hundred day simple moving average is $29.15. The stock has a market cap of $169.14 million, a P/E ratio of 35.23 and a beta of 0.96.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC purchased a new stake in First Trust S&P REIT Index Fund during the first quarter worth about $235,000. Cerity Partners LLC increased its holdings in First Trust S&P REIT Index Fund by 85.6% during the second quarter. Cerity Partners LLC now owns 30,401 shares of the company’s stock worth $822,000 after buying an additional 14,018 shares during the last quarter. Raymond James Financial Inc. increased its holdings in First Trust S&P REIT Index Fund by 60.3% during the second quarter. Raymond James Financial Inc. now owns 110,493 shares of the company’s stock worth $2,989,000 after buying an additional 41,547 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in First Trust S&P REIT Index Fund by 31.0% during the third quarter. Jones Financial Companies Lllp now owns 11,623 shares of the company’s stock worth $324,000 after buying an additional 2,751 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in First Trust S&P REIT Index Fund by 5.9% during the third quarter. Envestnet Asset Management Inc. now owns 41,649 shares of the company’s stock worth $1,171,000 after buying an additional 2,324 shares during 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. 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.