First Trust S&P REIT Index Fund (NYSEARCA:FRI) Trading 1% Higher – What’s Next?

First Trust S&P REIT Index Fund (NYSEARCA:FRI)’s stock price rose 1% on Monday . The company traded as high as $30.78 and last traded at $30.72. Approximately 11,799 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 29,164 shares. The stock had previously closed at $30.42.

First Trust S&P REIT Index Fund Trading Up 1.0%

The firm has a market cap of $164.35 million, a price-to-earnings ratio of 35.23 and a beta of 0.97. The stock has a 50-day moving average of $29.76 and a two-hundred day moving average of $28.75.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Gateway Wealth Partners LLC acquired a new position in shares of First Trust S&P REIT Index Fund in the 1st quarter valued at $308,000. Cetera Investment Advisers boosted its position in First Trust S&P REIT Index Fund by 0.5% during the 1st quarter. Cetera Investment Advisers now owns 497,818 shares of the company’s stock worth $14,168,000 after acquiring an additional 2,350 shares during the period. Fifth Third Bancorp acquired a new stake in First Trust S&P REIT Index Fund during the 1st quarter worth about $171,000. Kestra Advisory Services LLC boosted its position in First Trust S&P REIT Index Fund by 27.7% during the 1st quarter. Kestra Advisory Services LLC now owns 9,761 shares of the company’s stock worth $278,000 after acquiring an additional 2,118 shares during the period. Finally, True Blue Financial LLC boosted its position in First Trust S&P REIT Index Fund by 0.6% during the 1st quarter. True Blue Financial LLC now owns 108,408 shares of the company’s stock worth $3,085,000 after acquiring an additional 685 shares during the period.

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.