First Trust Mid Cap Growth AlphaDEX Fund Sees 7.1% Increase in Short Interest

The First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY - Get Free Report) experienced a notable rise in short interest during October. As of October 15th, the short interest stood at 54,300 shares, marking a 7.1% increase from 50,700 shares on September 30th. With an average trading volume of 14,700 shares, the current short-interest ratio is calculated to be 3.7 days.

Institutional Inflows and Outflows

Recently, several hedge funds have adjusted their positions in the First Trust Mid Cap Growth AlphaDEX Fund. Zions Bancorporation N.A. acquired a new stake during the second quarter, investing approximately $132,000. Similarly, Gateway Wealth Partners LLC purchased shares valued at about $236,000 in the same period. Sanctuary Advisors LLC invested roughly $338,000 in a new stake during the second quarter, while Jaffetilchin Investment Partners LLC bought a new position valued at around $348,000 in the first quarter. Concurrent Investment Advisors LLC also added to their holdings with a new stake worth $417,000 during the second quarter.

First Trust Mid Cap Growth AlphaDEX Fund Stock Performance

In trading on Friday, shares of NASDAQ:FNY increased by $0.75, reaching a price of $79.85. A total of 1,110 shares were exchanged, which is below the average trading volume of 15,497. The stock has seen a fifty-two week low of $57.13 and a high of $82.18. The average price over the last 50 days is $78.63, while the 200-day average is $75.32. The firm holds a market capitalization of $355.33 million, a PE ratio of 17.61, and a beta value of 1.13.

Dividend Announcement

Recently, the First Trust Mid Cap Growth AlphaDEX Fund announced an increase in its quarterly dividend. The payment, distributed on Monday, September 30th, was $0.3051 per share for stockholders recorded on September 26th. This dividend represents an annualized figure of $1.22, yielding 1.53%. This reflects an increase from the previous quarterly dividend rate of $0.06, with the ex-dividend date being September 26th.

Company Overview

The First Trust Mid Cap Growth AlphaDEX Fund (FNY) operates as an exchange-traded fund, following the NASDAQ AlphaDEX Mid Cap Growth index. It focuses on a tiered equal-weighted index of mid-cap growth stocks, which are selected using the AlphaDex methodology from the S&P 400 Index. The fund was launched on April 18, 2011, and is managed by First Trust.

Investment Considerations

Before considering an investment in the First Trust Mid Cap Growth AlphaDEX Fund, it is advisable to review current market analyses and recommendations. Some analysts suggest exploring alternative investments that may present better opportunities.

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