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

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

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

Several hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada boosted its stake in shares of First Trust S&P REIT Index Fund by 265.4% in the fourth quarter. Royal Bank of Canada now owns 149,934 shares of the company’s stock worth $4,095,000 after acquiring an additional 108,899 shares during the period. TrueWealth Financial Partners purchased a new stake in First Trust S&P REIT Index Fund during the fourth quarter valued at approximately $2,942,000. Susquehanna International Group LLP bought a new position in shares of First Trust S&P REIT Index Fund during the third quarter valued at approximately $1,432,000. Raymond James Financial Inc. boosted its holdings in shares of First Trust S&P REIT Index Fund by 60.3% in the second quarter. Raymond James Financial Inc. now owns 110,493 shares of the company’s stock valued at $2,989,000 after purchasing an additional 41,547 shares during the period. Finally, TCP Asset Management LLC boosted its position in First Trust S&P REIT Index Fund by 11.0% during the 4th quarter. TCP Asset Management LLC now owns 380,093 shares of the company’s stock valued at $10,380,000 after acquiring an additional 37,570 shares in the last quarter.

First Trust S&P REIT Index Fund Price Performance

Shares of FRI traded up $0.11 during trading hours on Thursday, hitting $31.62. The company’s stock had a trading volume of 9,445 shares, compared to its average volume of 28,127. The business has a 50 day simple moving average of $30.49 and a two-hundred day simple moving average of $29.15. First Trust S&P REIT Index Fund has a 52-week low of $26.50 and a 52-week high of $31.76. The company has a market cap of $169.14 million, a price-to-earnings ratio of 35.23 and a beta of 0.96.

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.