First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Short Interest Update

Key Points

• Short interest fell sharply: FNY’s short interest dropped 39.6% to 36,249 shares as of July 31, representing about 0.6% of shares outstanding and a 1.6-day days-to-cover ratio.
• Shares declined 2.1%: FNY traded at $105.72, with a market capitalization of approximately $597.3 million. The ETF’s 12-month trading range is $83.42 to $111.06.
• Institutional activity was mixed but generally positive: Several firms initiated positions, while Pine Valley Investments and NewEdge Advisors increased their holdings; NewEdge now owns 288,746 shares.

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY - ) was the recipient of a large decrease in short interest during the month of July. As of July 31st, there was short interest totaling 36,249 shares, a decrease of 39.6% from the July 15th total of 60,036 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily volume of 23,324 shares, the days-to-cover ratio is currently 1.6 days.

First Trust Mid Cap Growth AlphaDEX Fund Trading Down 2.1%

Shares of FNY stock traded down $2.25 during trading hours on Tuesday, hitting $105.72. 4,277 shares of the company's stock were exchanged, compared to its average volume of 26,985. First Trust Mid Cap Growth AlphaDEX Fund has a 12-month low of $83.42 and a 12-month high of $111.06. The company has a market capitalization of $597.29 million, a PE ratio of 24.50 and a beta of 1.19. The business's 50 day simple moving average is $105.67 and its 200-day simple moving average is $100.26.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Wealthcare Advisory Partners LLC purchased a new position in shares of First Trust Mid Cap Growth AlphaDEX Fund in the second quarter worth about $496,000. Central Pacific Bank Trust Division bought a new position in First Trust Mid Cap Growth AlphaDEX Fund during the 2nd quarter worth approximately $44,000. Pine Valley Investments Ltd Liability Co increased its stake in First Trust Mid Cap Growth AlphaDEX Fund by 7.4% in the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 5,766 shares of the company's stock worth $522,000 after purchasing an additional 396 shares during the period. NewEdge Advisors LLC increased its stake in First Trust Mid Cap Growth AlphaDEX Fund by 3.3% in the 1st quarter. NewEdge Advisors LLC now owns 288,746 shares of the company's stock worth $26,128,000 after purchasing an additional 9,102 shares during the period. Finally, Western Wealth Management LLC bought a new stake in First Trust Mid Cap Growth AlphaDEX Fund in the first quarter valued at approximately $38,000.

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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