Short Interest in First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) Expands By 269.2%

First Trust Dow Jones Internet Index Fund (NYSEARCA:FDN) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 1,874,126 shares, a growth of 269.2% from the March 15th total of 507,594 shares. Approximately 9.6% of the shares of the stock are sold short. Based on an average trading volume of 468,525 shares, the days-to-cover ratio is presently 4.0 days.

Hedge Funds Weigh In On First Trust Dow Jones Internet Index Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC grew its position in First Trust Dow Jones Internet Index Fund by 29.9% in the first quarter. AQR Capital Management LLC now owns 1,629 shares of the company’s stock worth $362,000 after acquiring an additional 375 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of First Trust Dow Jones Internet Index Fund by 8.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,691 shares of the company’s stock valued at $455,000 after purchasing an additional 134 shares during the last quarter. Brown Advisory Inc. boosted its holdings in shares of First Trust Dow Jones Internet Index Fund by 35.9% in the 2nd quarter. Brown Advisory Inc. now owns 1,716 shares of the company’s stock worth $462,000 after purchasing an additional 453 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of First Trust Dow Jones Internet Index Fund by 16.1% in the 2nd quarter. Quantinno Capital Management LP now owns 3,093 shares of the company’s stock worth $833,000 after purchasing an additional 430 shares during the period. Finally, Darwin Wealth Management LLC bought a new position in shares of First Trust Dow Jones Internet Index Fund during the 2nd quarter valued at approximately $195,000. 70.10% of the stock is owned by hedge funds and other institutional investors.

First Trust Dow Jones Internet Index Fund Trading Down 1.0%

Shares of FDN stock traded down $2.36 on Friday, reaching $242.92. The company’s stock had a trading volume of 441,375 shares, compared to its average volume of 615,470. The stock’s fifty day simple moving average is $241.31 and its 200-day simple moving average is $261.64. First Trust Dow Jones Internet Index Fund has a 1 year low of $204.20 and a 1 year high of $287.81. The company has a market capitalization of $4.75 billion, a price-to-earnings ratio of 32.59 and a beta of 1.20.

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. The Index represents companies that generate the majority of their revenues via the Internet. The Index aims to represent 80% of the float-adjusted Internet equity universe. The Index contains two sub-indexes, the Dow Jones Internet Commerce Index and the Dow Jones Internet Services Index.