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

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

First Trust S&P REIT Index Fund Price Performance

The stock’s 50 day simple moving average is $30.77 and its two-hundred day simple moving average is $31.05. The firm has a market cap of $185.07 million, a P/E ratio of 35.23 and a beta of 0.94.

Institutional Trading of First Trust S&P REIT Index Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its stake in First Trust S&P REIT Index Fund by 7.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 53,540 shares of the company’s stock worth $1,697,000 after purchasing an additional 3,772 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of First Trust S&P REIT Index Fund during the 2nd quarter valued at $92,000. Citadel Advisors LLC purchased a new stake in First Trust S&P REIT Index Fund during the second quarter valued at $1,415,000. RPg Family Wealth Advisory LLC increased its position in shares of First Trust S&P REIT Index Fund by 3.8% during the 2nd quarter. RPg Family Wealth Advisory LLC now owns 12,549 shares of the company’s stock valued at $398,000 after purchasing an additional 463 shares during the last quarter. Finally, Risk Paradigm Group LLC boosted its stake in shares of First Trust S&P REIT Index Fund by 3.9% during 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 during 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.