First Trust S&P REIT Index Fund (NYSEARCA:FRI) Shares Up 1.3% – Still a Buy?

First Trust S&P REIT Index Fund (NYSEARCA:FRI)’s stock price rose 1.3% during trading on Wednesday . The stock traded as high as $29.79 and last traded at $29.76. Approximately 33,430 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 44,318 shares. The stock had previously closed at $29.37.

First Trust S&P REIT Index Fund Trading Up 0.6 %

The firm has a market cap of $134.01 million, a PE ratio of 27.98 and a beta of 1.01. The firm has a fifty day moving average price of $29.04 and a 200 day moving average price of $26.79.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FRI. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in shares of First Trust S&P REIT Index Fund by 2.1% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 23,019 shares of the company’s stock valued at $591,000 after acquiring an additional 463 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in First Trust S&P REIT Index Fund by 5.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,000 shares of the company’s stock valued at $234,000 after purchasing an additional 500 shares during the last quarter. Comerica Bank purchased a new stake in First Trust S&P REIT Index Fund in the first quarter valued at approximately $31,000. Benjamin F. Edwards & Company Inc. lifted its stake in First Trust S&P REIT Index Fund by 5.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 25,421 shares of the company’s stock worth $653,000 after purchasing an additional 1,273 shares in the last quarter. Finally, Financial Perspectives Inc purchased a new position in shares of First Trust S&P REIT Index Fund during the second quarter worth $36,000.

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.