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

First Trust S&P REIT Index Fund (NYSEARCA:FRI) was the target of a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 3,739 shares, a drop of 78.1% from the June 30th total of 17,062 shares. Based on an average daily trading volume, of 26,257 shares, the short-interest ratio is currently 0.1 days. Currently, 0.1% of the company’s shares are short sold.

First Trust S&P REIT Index Fund Trading Up 2.3%

FRI stock opened at $33.34 on Friday. The business’s fifty day moving average price is $31.65 and its 200 day moving average price is $30.12. First Trust S&P REIT Index Fund has a 12-month low of $26.50 and a 12-month high of $33.37. The company has a market capitalization of $195.04 million, a PE ratio of 35.23 and a beta of 0.95.

Institutional Trading of First Trust S&P REIT Index Fund

Several hedge funds have recently made changes to their positions in FRI. Arax Advisory Partners purchased a new position in shares of First Trust S&P REIT Index Fund in the fourth quarter valued at approximately $27,000. Western Wealth Management LLC purchased a new stake in shares of First Trust S&P REIT Index Fund in the 1st quarter valued at approximately $67,000. Bank of Montreal Can acquired a new stake in First Trust S&P REIT Index Fund in the fourth quarter valued at $72,000. Comerica Bank raised its position 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 in the last quarter. Finally, Fifth Third Bancorp acquired a new stake in First Trust S&P REIT Index Fund during the first quarter worth approximately $171,000.

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.