First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Sees Large Growth in Short Interest

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY - Get Free Report) saw a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 31,900 shares, a growth of 29.1% from the May 15th total of 24,700 shares. Based on an average trading volume of 22,800 shares, the short-interest ratio is presently 1.4 days. Approximately 0.7% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. GPS Wealth Strategies Group LLC acquired a new position in First Trust Mid Cap Growth AlphaDEX Fund in the 1st quarter worth approximately $49,000. NBC Securities Inc. purchased a new stake in shares of First Trust Mid Cap Growth AlphaDEX Fund in the first quarter valued at $50,000. Allworth Financial LP raised its position in First Trust Mid Cap Growth AlphaDEX Fund by 23.8% during the fourth quarter. Allworth Financial LP now owns 625 shares of the company's stock valued at $53,000 after buying an additional 120 shares during the period. Mpwm Advisory Solutions LLC purchased a new stake in First Trust Mid Cap Growth AlphaDEX Fund in the 4th quarter worth about $64,000. Finally, Geneos Wealth Management Inc. boosted its position in First Trust Mid Cap Growth AlphaDEX Fund by 9.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,251 shares of the company's stock worth $169,000 after acquiring an additional 188 shares during the period.

First Trust Mid Cap Growth AlphaDEX Fund Trading Down 0.5%

Shares of NASDAQ FNY traded down $0.41 during mid-day trading on Tuesday, reaching $79.67. The company had a trading volume of 7,496 shares, compared to its average volume of 18,513. The company has a 50-day moving average price of $76.70 and a two-hundred day moving average price of $79.13. The stock has a market cap of $374.45 million, a PE ratio of 23.90 and a beta of 1.13. First Trust Mid Cap Growth AlphaDEX Fund has a 1-year low of $64.52 and a 1-year high of $88.74.

First Trust Mid Cap Growth AlphaDEX Fund Company Profile

The First Trust Mid Cap Growth AlphaDEX Fund (FNY) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Mid Cap Growth index. The fund tracks a tiered equal-weighted index of mid-cap growth stocks selected by AlphaDex selection methodology from the S&P 400 Index. FNY was launched on Apr 18, 2011 and is managed by First Trust.

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