First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) Sees Large Decline in Short Interest

First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) was the recipient of a large decline in short interest in the month of April. As of April 30th, there was short interest totaling 237,797 shares, a decline of 48.6% from the April 15th total of 463,001 shares. Approximately 1.2% of the company’s shares are sold short. Based on an average daily trading volume, of 570,044 shares, the days-to-cover ratio is presently 0.4 days.

First Trust Dow Jones Internet Index Fund Stock Performance

FDN stock opened at $268.17 on Monday. The firm has a market cap of $5.35 billion, a PE ratio of 32.59 and a beta of 1.21. The firm’s 50 day moving average price is $250.85 and its 200-day moving average price is $258.51. First Trust Dow Jones Internet Index Fund has a one year low of $224.46 and a one year high of $287.81.

Institutional Trading of First Trust Dow Jones Internet Index Fund

Several institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its position in shares of First Trust Dow Jones Internet Index Fund by 10,327.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 969,394 shares of the company’s stock valued at $260,941,000 after buying an additional 960,097 shares during the period. UBS Group AG increased its holdings in First Trust Dow Jones Internet Index Fund by 21.7% in the 3rd quarter. UBS Group AG now owns 879,200 shares of the company’s stock valued at $246,035,000 after purchasing an additional 156,607 shares during the last quarter. LPL Financial LLC increased its holdings in First Trust Dow Jones Internet Index Fund by 5.6% in the 4th quarter. LPL Financial LLC now owns 839,143 shares of the company’s stock valued at $225,881,000 after purchasing an additional 44,692 shares during the last quarter. Bank of America Corp DE increased its holdings in First Trust Dow Jones Internet Index Fund by 3.0% in the 3rd quarter. Bank of America Corp DE now owns 719,528 shares of the company’s stock valued at $201,353,000 after purchasing an additional 21,083 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in First Trust Dow Jones Internet Index Fund by 84.6% in the 3rd quarter. Millennium Management LLC now owns 650,113 shares of the company’s stock valued at $181,928,000 after purchasing an additional 297,881 shares during the last quarter. Hedge funds and other institutional investors own 70.10% of the company’s stock.

First Trust Dow Jones Internet Index Fund Company Profile

First Trust Dow Jones Internet Index Fund (the Fund) seeks investment results that correspond generally to the price and yield of an equity index called the Dow Jones Internet Composite Index (the Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index represents companies that generate the majority of their revenues via the Internet. The Index aims to represent 80% of the float-adjusted Internet equity universe. The Index contains two sub-indexes, the Dow Jones Internet Commerce Index and the Dow Jones Internet Services Index.