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

First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 187,800 shares, a decline of 57.8% from the September 15th total of 444,900 shares. Based on an average daily trading volume, of 433,800 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily trading volume, of 433,800 shares, the days-to-cover ratio is presently 0.4 days.

First Trust Dow Jones Internet Index Fund Stock Up 0.3%

NYSEARCA FDN opened at $277.66 on Friday. The company has a fifty day moving average of $278.38 and a two-hundred day moving average of $259.08. The firm has a market capitalization of $7.91 billion, a price-to-earnings ratio of 32.59 and a beta of 1.12. First Trust Dow Jones Internet Index Fund has a 52 week low of $191.37 and a 52 week high of $287.81.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Encompass More Asset Management purchased a new position in First Trust Dow Jones Internet Index Fund during the third quarter worth $205,000. Worth Asset Management LLC boosted its stake in First Trust Dow Jones Internet Index Fund by 46.7% during the third quarter. Worth Asset Management LLC now owns 1,408 shares of the company’s stock worth $394,000 after buying an additional 448 shares during the period. Cahaba Wealth Management Inc. purchased a new position in First Trust Dow Jones Internet Index Fund during the 3rd quarter valued at $205,000. Apollon Wealth Management LLC boosted its holdings in First Trust Dow Jones Internet Index Fund by 2.6% during the 3rd quarter. Apollon Wealth Management LLC now owns 4,599 shares of the company’s stock valued at $1,287,000 after acquiring an additional 118 shares during the period. Finally, CWM LLC boosted its holdings in First Trust Dow Jones Internet Index Fund by 2.4% during the 3rd quarter. CWM LLC now owns 18,515 shares of the company’s stock valued at $5,181,000 after acquiring an additional 429 shares during the period. 70.10% of the stock is owned by hedge funds and other institutional investors.

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.