First Trust S&P REIT Index Fund (NYSEARCA:FRI) Shares Down 0.4% – Here’s Why

First Trust S&P REIT Index Fund (NYSEARCA:FRI) shares dropped 0.4% during mid-day trading on Friday . The company traded as low as $27.16 and last traded at $27.16. Approximately 22,032 shares changed hands during trading, a decline of 42% from the average daily volume of 38,166 shares. The stock had previously closed at $27.27.

First Trust S&P REIT Index Fund Stock Down 0.4%

The stock has a 50 day moving average of $27.82 and a 200 day moving average of $27.60. The company has a market capitalization of $143.95 million, a price-to-earnings ratio of 35.23 and a beta of 1.01.

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

Institutional investors have recently modified their holdings of the company. Harvest Investment Services LLC increased its position in shares of First Trust S&P REIT Index Fund by 3.0% during the third quarter. Harvest Investment Services LLC now owns 14,666 shares of the company’s stock worth $412,000 after buying an additional 429 shares during the period. Susquehanna International Group LLP bought a new stake in First Trust S&P REIT Index Fund during the third quarter valued at $1,432,000. Citadel Advisors LLC acquired a new stake in First Trust S&P REIT Index Fund during the 3rd quarter worth about $379,000. Bank of America Corp DE grew its holdings in First Trust S&P REIT Index Fund by 5.3% during the 3rd quarter. Bank of America Corp DE now owns 28,665 shares of the company’s stock worth $806,000 after acquiring an additional 1,430 shares during the period. Finally, Maia Wealth LLC raised its position in shares of First Trust S&P REIT Index Fund by 31.7% in the 3rd quarter. Maia Wealth LLC now owns 21,990 shares of the company’s stock worth $616,000 after acquiring an additional 5,290 shares in the last quarter.

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.