Short Interest in First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) Drops By 28.8%

First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) saw a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 224,700 shares, a decrease of 28.8% from the May 15th total of 315,400 shares. Based on an average daily volume of 475,400 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.8% of the shares of the stock are sold short.

Institutional Trading of First Trust Dow Jones Internet Index Fund

Institutional investors and hedge funds have recently modified their holdings of the stock. Modern Wealth Management LLC raised its stake in First Trust Dow Jones Internet Index Fund by 1.3% in the 1st quarter. Modern Wealth Management LLC now owns 6,002 shares of the company’s stock valued at $1,333,000 after purchasing an additional 79 shares during the last quarter. Apeiron RIA LLC purchased a new stake in shares of First Trust Dow Jones Internet Index Fund during the first quarter worth $1,468,000. Integrity Alliance LLC. acquired a new stake in shares of First Trust Dow Jones Internet Index Fund in the first quarter valued at about $888,000. Tamar Securities LLC lifted its stake in shares of First Trust Dow Jones Internet Index Fund by 25.2% in the first quarter. Tamar Securities LLC now owns 55,814 shares of the company’s stock worth $12,399,000 after buying an additional 11,220 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of First Trust Dow Jones Internet Index Fund by 18,445.4% in the first quarter. Millennium Management LLC now owns 286,897 shares of the company’s stock worth $63,734,000 after buying an additional 285,350 shares in the last quarter.

First Trust Dow Jones Internet Index Fund Stock Performance

First Trust Dow Jones Internet Index Fund stock opened at $258.36 on Tuesday. The company’s fifty day moving average price is $239.50 and its 200 day moving average price is $243.04. First Trust Dow Jones Internet Index Fund has a 1 year low of $177.20 and a 1 year high of $267.81. The stock has a market capitalization of $6.98 billion, a P/E ratio of 31.13 and a beta of 1.17.

About First Trust Dow Jones Internet Index Fund

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.