First Trust Small Cap Value AlphaDEX Fund (NASDAQ:FYT) Sees Large Drop in Short Interest

Key Points

• The First Trust Small Cap Value AlphaDEX Fund (NASDAQ:FYT) experienced a significant 30% decrease in short interest in September, dropping from 2,000 shares to 1,400 shares.
• As of the latest reporting, the fund's market cap is $136.27 million with a price-to-earnings ratio of 10.91 and shares trading at $56.78.
• Several institutional investors have recently increased their positions in FYT, including Trust Co. of Toledo NA and Capital Analysts LLC, indicating growing interest in the fund.

First Trust Small Cap Value AlphaDEX Fund (NASDAQ:FYT - ) saw a significant decline in short interest in September. As of September 15th, there was short interest totaling 1,400 shares, a decline of 30.0% from the August 31st total of 2,000 shares. Based on an average trading volume of 7,000 shares, the short-interest ratio is presently 0.2 days. Based on an average trading volume of 7,000 shares, the short-interest ratio is presently 0.2 days.

First Trust Small Cap Value AlphaDEX Fund Stock Performance

Shares of NASDAQ FYT opened at $56.78 on Monday. The business's 50-day simple moving average is $55.08 and its 200-day simple moving average is $51.19. First Trust Small Cap Value AlphaDEX Fund has a 52 week low of $42.11 and a 52 week high of $61.44. The firm has a market cap of $136.27 million, a price-to-earnings ratio of 10.91 and a beta of 1.37.

Hedge Funds Weigh In On First Trust Small Cap Value AlphaDEX Fund

A number of institutional investors have recently made changes to their positions in the business. Trust Co. of Toledo NA OH bought a new stake in First Trust Small Cap Value AlphaDEX Fund during the 2nd quarter valued at approximately $25,000. Winnow Wealth LLC acquired a new stake in shares of First Trust Small Cap Value AlphaDEX Fund in the second quarter worth $50,000. Ameritas Advisory Services LLC bought a new position in First Trust Small Cap Value AlphaDEX Fund during the second quarter worth $54,000. Creative Financial Designs Inc. ADV raised its stake in First Trust Small Cap Value AlphaDEX Fund by 16.2% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 1,482 shares of the company's stock valued at $75,000 after purchasing an additional 207 shares during the last quarter. Finally, Capital Analysts LLC boosted its holdings in First Trust Small Cap Value AlphaDEX Fund by 39.5% in the 1st quarter. Capital Analysts LLC now owns 1,968 shares of the company's stock valued at $98,000 after purchasing an additional 557 shares during the period.

About First Trust Small Cap Value AlphaDEX Fund

The First Trust Small Cap Value AlphaDEX Fund (FYT) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Small Cap Value index. The fund tracks an index of securities pulled from the NASDAQ US 700 Small Cap Index that are rescreened and weighted based on a tiered process. FYT was launched on Apr 18, 2011 and is managed by First Trust.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.