First Trust Mid Cap Growth AlphaDEX Fund Sees Significant Drop in Short Interest

The First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY - Get Free Report) experienced a notable decline in short interest during March. As of March 15th, short interest amounted to 20,000 shares, representing a significant drop of 54.2% from the previous total of 43,700 shares recorded on February 28th. Currently, about 0.4% of the company’s stock is sold short. Given an average daily trading volume of 24,000 shares, the days-to-cover ratio is now at 0.8 days.

First Trust Mid Cap Growth AlphaDEX Fund Stock Performance

On Friday, shares of the First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) fell by $1.67, reaching a price of $74.17. A total of 13,462 shares changed hands, which is below the average trading volume of 18,097 shares. The fund’s fifty-day moving average price stands at $80.60, while its two-hundred-day moving average price is $81.42. The fund's market capitalization is approximately $370.85 million, with a price-to-earnings (P/E) ratio of 23.18 and a beta of 1.13. Over the past twelve months, the fund has seen a low of $69.31 and a high of $88.74.

Institutional Inflows and Outflows

Recent activity among large investors has seen significant changes in their stakes in the First Trust Mid Cap Growth AlphaDEX Fund. For instance, Allworth Financial LP increased its position in the fund by 23.8% during the fourth quarter, acquiring a total of 625 shares valued at $53,000 after purchasing an additional 120 shares. Likewise, Synergy Asset Management LLC established a new stake valued at $60,000, and Mpwm Advisory Solutions LLC also created a new position worth $64,000. Oppenheimer & Co. Inc. invested about $208,000, while Arete Wealth Advisors LLC acquired shares worth around $210,000 in the third quarter.

First Trust Mid Cap Growth AlphaDEX Fund Company Overview

The First Trust Mid Cap Growth AlphaDEX Fund (FNY) is an exchange-traded fund (ETF) that tracks the NASDAQ AlphaDEX Mid Cap Growth Index. This fund utilizes an equal-weighted index methodology, selecting mid-cap growth stocks from the S&P 400 Index based on AlphaDex selection criteria. Launched on April 18, 2011, it is managed by First Trust.

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Investment Consideration

Before deciding to invest in the First Trust Mid Cap Growth AlphaDEX Fund, potential investors should be aware of relevant information.

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