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

First Trust S&P REIT Index Fund (NYSEARCA:FRI) was the target of a large growth in short interest in February. As of February 27th, there was short interest totaling 9,319 shares, a growth of 55.9% from the February 12th total of 5,978 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily volume of 19,908 shares, the days-to-cover ratio is currently 0.5 days. Based on an average daily volume of 19,908 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.2% of the company’s stock are sold short.

First Trust S&P REIT Index Fund Price Performance

NYSEARCA:FRI traded down $0.07 during trading hours on Friday, reaching $29.21. The company’s stock had a trading volume of 18,678 shares, compared to its average volume of 31,449. The company has a market cap of $163.58 million, a price-to-earnings ratio of 35.23 and a beta of 1.01. First Trust S&P REIT Index Fund has a one year low of $23.15 and a one year high of $30.45. The business’s 50-day moving average is $28.89 and its 200-day moving average is $28.18.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Arax Advisory Partners bought a new stake in First Trust S&P REIT Index Fund during the fourth quarter worth approximately $27,000. MTM Investment Management LLC acquired a new stake in shares of First Trust S&P REIT Index Fund in the second quarter worth $49,000. Evolution Wealth Management Inc. acquired a new stake in shares of First Trust S&P REIT Index Fund in the second quarter worth $52,000. Bank of Montreal Can bought a new stake in shares of First Trust S&P REIT Index Fund during the 4th quarter worth $72,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in First Trust S&P REIT Index Fund in the 2nd quarter valued at $133,000.

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.