Short Interest in First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) Grows By 172.9%

First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 424,962 shares, an increase of 172.9% from the July 15th total of 155,695 shares. Currently, 2.3% of the shares of the company are sold short. Based on an average daily trading volume, of 423,851 shares, the short-interest ratio is currently 1.0 days.

Hedge Funds Weigh In On First Trust Dow Jones Internet Index Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Concurrent Investment Advisors LLC lifted its stake in First Trust Dow Jones Internet Index Fund by 53.6% during the 4th quarter. Concurrent Investment Advisors LLC now owns 11,502 shares of the company’s stock valued at $3,096,000 after acquiring an additional 4,016 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of First Trust Dow Jones Internet Index Fund by 12.2% in the fourth quarter. Geneos Wealth Management Inc. now owns 6,531 shares of the company’s stock worth $1,758,000 after acquiring an additional 712 shares during the period. Kingswood Wealth Advisors LLC raised its holdings in shares of First Trust Dow Jones Internet Index Fund by 8.4% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 2,264 shares of the company’s stock worth $609,000 after purchasing an additional 176 shares during the last quarter. Earned Wealth Advisors LLC purchased a new position in shares of First Trust Dow Jones Internet Index Fund during the fourth quarter worth $23,822,000. Finally, Berkshire Money Management Inc. acquired a new position in First Trust Dow Jones Internet Index Fund during the fourth quarter valued at $589,000. Institutional investors and hedge funds own 70.10% of the company’s stock.

First Trust Dow Jones Internet Index Fund Price Performance

NYSEARCA FDN opened at $295.25 on Friday. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 32.59 and a beta of 1.22. The stock’s fifty day moving average price is $271.26 and its 200 day moving average price is $259.71. First Trust Dow Jones Internet Index Fund has a 1 year low of $224.46 and a 1 year high of $295.57.

First Trust Dow Jones Internet Index Fund Company Profile

First Trust Dow Jones Internet Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the Dow Jones Internet Composite Index (the Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index represents companies that generate the majority of their revenues via the Internet. The Index aims to represent 80% of the float-adjusted Internet equity universe. The Index contains two sub-indexes, the Dow Jones Internet Commerce Index and the Dow Jones Internet Services Index.