Short Interest in First Trust S&P REIT Index Fund (NYSEARCA:FRI) Drops By 78.1%

First Trust S&P REIT Index Fund (NYSEARCA:FRI) was the target of a large decrease in short interest in the month of 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 daily trading volume, of 26,257 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the company’s stock are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its position in First Trust S&P REIT Index Fund by 265.4% during the 4th quarter. Royal Bank of Canada now owns 149,934 shares of the company’s stock valued at $4,095,000 after purchasing an additional 108,899 shares during the period. TrueWealth Financial Partners purchased a new stake in shares of First Trust S&P REIT Index Fund in the 4th quarter worth 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 stake in shares of 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 valued at $2,989,000 after purchasing an additional 41,547 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in First Trust S&P REIT Index Fund by 261.4% during the fourth quarter. Stifel Financial Corp now owns 48,804 shares of the company’s stock valued at $1,333,000 after buying an additional 35,298 shares during the period.

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

Shares of FRI traded up $0.74 during midday trading on Friday, reaching $33.34. 235,938 shares of the stock were exchanged, compared to its average volume of 28,860. The company has a market capitalization of $195.04 million, a P/E ratio of 35.23 and a beta of 0.95. First Trust S&P REIT Index Fund has a 52 week low of $26.50 and a 52 week high of $33.37. The company’s 50 day moving average is $31.65 and its two-hundred day moving average is $30.12.

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.