First Trust Small Cap Growth AlphaDEX Fund (NASDAQ:FYC) Sees Significant Drop in Short Interest

Key Points

• Short interest in FYC fell 67% to 7,865 shares as of October 15, representing just 0.1% of shares outstanding and a days-to-cover ratio of 0.1.
• FYC shares rose 0.3% to $116.80, with the ETF’s market capitalization at approximately $1.38 billion and its 12-month trading range at $86.85 to $127.57.
• Several institutional investors increased their positions, including Cetera Investment Advisers, Bank of America, Envestnet Asset Management, Royal Bank of Canada, and Richmond Investment Services.

First Trust Small Cap Growth AlphaDEX Fund (NASDAQ:FYC - ) was the target of a large drop in short interest in October. As of October 15th, there was short interest totaling 7,865 shares, a drop of 67.0% from the September 30th total of 23,844 shares. Currently, 0.1% of the company's stock are short sold. Based on an average daily volume of 100,742 shares, the days-to-cover ratio is presently 0.1 days.

First Trust Small Cap Growth AlphaDEX Fund Stock Up 0.3%

First Trust Small Cap Growth AlphaDEX Fund stock traded up $0.38 during trading hours on Thursday, hitting $116.80. The stock had a trading volume of 42,052 shares, compared to its average volume of 74,770. The stock's 50-day moving average price is $116.69 and its 200-day moving average price is $111.72. The stock has a market capitalization of $1.38 billion, a P/E ratio of 20.27 and a beta of 1.19. First Trust Small Cap Growth AlphaDEX Fund has a 12-month low of $86.85 and a 12-month high of $127.57.

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

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers lifted its position in First Trust Small Cap Growth AlphaDEX Fund by 13.6% in the 1st quarter. Cetera Investment Advisers now owns 289,684 shares of the company's stock valued at $28,094,000 after acquiring an additional 34,676 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of First Trust Small Cap Growth AlphaDEX Fund by 21.2% in the 1st quarter. Bank of America Corp DE now owns 244,266 shares of the company's stock worth $23,689,000 after purchasing an additional 42,752 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of First Trust Small Cap Growth AlphaDEX Fund by 4.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 193,051 shares of the company's stock worth $24,583,000 after purchasing an additional 7,626 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of First Trust Small Cap Growth AlphaDEX Fund by 4.4% in the 1st quarter. Royal Bank of Canada now owns 171,140 shares of the company's stock worth $16,597,000 after purchasing an additional 7,183 shares in the last quarter. Finally, Richmond Investment Services LLC raised its stake in shares of First Trust Small Cap Growth AlphaDEX Fund by 2.7% in the first quarter. Richmond Investment Services LLC now owns 146,944 shares of the company's stock worth $14,252,000 after purchasing an additional 3,859 shares during the last quarter.

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.

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