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 target of a significant decrease in short interest in July. As of July 15th, there was short interest totaling 3,739 shares, a decrease of 78.1% from the June 30th total of 17,062 shares. Based on an average trading volume of 26,257 shares, the short-interest ratio is currently 0.1 days. Currently, 0.1% of the company’s stock are short sold.

First Trust S&P REIT Index Fund Stock Performance

NYSEARCA FRI traded down $0.16 during trading hours on Monday, hitting $33.18. 16,493 shares of the company traded hands, compared to its average volume of 28,772. The business’s 50-day moving average is $31.65 and its 200-day moving average is $30.14. The stock has a market capitalization of $194.10 million, a price-to-earnings ratio of 35.23 and a beta of 0.95. First Trust S&P REIT Index Fund has a twelve month low of $26.50 and a twelve month high of $33.37.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Arax Advisory Partners bought a new stake in First Trust S&P REIT Index Fund during the fourth quarter worth about $27,000. Western Wealth Management LLC acquired a new position in shares of First Trust S&P REIT Index Fund in the 1st quarter valued at approximately $67,000. Bank of Montreal Can bought a new stake in shares of First Trust S&P REIT Index Fund during the 4th quarter worth approximately $72,000. Comerica Bank lifted its holdings in shares of First Trust S&P REIT Index Fund by 400.5% during the 4th quarter. Comerica Bank now owns 6,011 shares of the company’s stock worth $164,000 after acquiring an additional 4,810 shares during the period. Finally, Fifth Third Bancorp bought a new stake in shares of First Trust S&P REIT Index Fund during the 1st quarter worth approximately $171,000.

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.