First Trust Small Cap Growth AlphaDEX Fund (NASDAQ:FYC) Short Interest Down 71.9% in May

First Trust Small Cap Growth AlphaDEX Fund (NASDAQ:FYC - Get Free Report) was the target of a large drop in short interest during the month of May. As of May 31st, there was short interest totalling 21,400 shares, a drop of 71.9% from the May 15th total of 76,100 shares. Approximately 0.4% of the company's shares are short sold. Based on an average trading volume of 37,400 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Investors Weigh In On First Trust Small Cap Growth AlphaDEX Fund

Several hedge funds and other institutional investors have recently bought and sold shares of FYC. JPMorgan Chase & Co. acquired a new position in First Trust Small Cap Growth AlphaDEX Fund in the 4th quarter valued at about $31,000. Concourse Financial Group Securities Inc. purchased a new stake in shares of First Trust Small Cap Growth AlphaDEX Fund during the 4th quarter valued at approximately $32,000. Montag A & Associates Inc. acquired a new position in First Trust Small Cap Growth AlphaDEX Fund in the first quarter valued at approximately $34,000. Capital Analysts LLC purchased a new position in First Trust Small Cap Growth AlphaDEX Fund in the first quarter worth approximately $41,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in First Trust Small Cap Growth AlphaDEX Fund by 102.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 873 shares of the company's stock valued at $60,000 after purchasing an additional 442 shares during the period.

First Trust Small Cap Growth AlphaDEX Fund Stock Performance

Shares of NASDAQ FYC traded down $1.55 during trading on Friday, hitting $75.17. 11,925 shares of the company were exchanged, compared to its average volume of 35,946. The company has a fifty day moving average price of $70.80 and a 200-day moving average price of $74.70. The firm has a market capitalization of $432.23 million, a PE ratio of 17.33 and a beta of 1.19. First Trust Small Cap Growth AlphaDEX Fund has a 12-month low of $59.29 and a 12-month high of $85.01.

About First Trust Small Cap Growth AlphaDEX Fund

The First Trust Small Cap Growth AlphaDEX Fund (FYC) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Small Cap Growth index. The fund tracks a quant-driven index that select stocks from a small-cap growth universe in an attempt to outperform the market. FYC was launched on Apr 18, 2011 and is managed by First Trust.