First Trust S&P REIT Index Fund (NYSEARCA:FRI) Shares Up 0.4% – Should You Buy?

First Trust S&P REIT Index Fund (NYSEARCA:FRI) traded up 0.4% during trading on Friday. The stock traded as high as $30.06 and last traded at $29.85. 118,193 shares were traded during mid-day trading, an increase of 249% from the average session volume of 33,901 shares. The stock had previously closed at $29.74.

First Trust S&P REIT Index Fund Price Performance

The firm’s 50 day moving average is $30.77 and its 200 day moving average is $31.05. The company has a market capitalization of $185.07 million, a PE ratio of 35.23 and a beta of 0.94.

Institutional Investors Weigh In On First Trust S&P REIT Index Fund

A number of large investors have recently added to or reduced their stakes in FRI. Envestnet Asset Management Inc. raised its stake in shares of First Trust S&P REIT Index Fund by 7.6% during the second quarter. Envestnet Asset Management Inc. now owns 53,540 shares of the company’s stock valued at $1,697,000 after acquiring an additional 3,772 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of First Trust S&P REIT Index Fund during the 2nd quarter worth approximately $92,000. Citadel Advisors LLC purchased a new stake in First Trust S&P REIT Index Fund in the second quarter worth $1,415,000. RPg Family Wealth Advisory LLC grew its position in shares of First Trust S&P REIT Index Fund by 3.8% in the 2nd quarter. RPg Family Wealth Advisory LLC now owns 12,549 shares of the company’s stock worth $398,000 after buying an additional 463 shares during the period. Finally, Risk Paradigm Group LLC increased its stake in shares of First Trust S&P REIT Index Fund by 3.9% in the 2nd quarter. Risk Paradigm Group LLC now owns 12,191 shares of the company’s stock worth $386,000 after acquiring an additional 463 shares in the last quarter.

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.