Short Interest in First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Decreases By 50.5%

Key Points

• Short interest plunged 50.5% — FNY’s short interest fell to 50,918 shares as of April 15 (from 102,887 on March 31), leaving a short-interest ratio of about 1.1 days and roughly 1.0% of shares short.
• Fund trading near its 1‑year high — FNY opened at $100.48 (1‑year high $101.86) and has a market cap of about $517.5M, P/E of 24.5, beta 1.20, and 50/200‑day SMAs around $94.6/$93.8.

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY - ) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totaling 50,918 shares, a decline of 50.5% from the March 31st total of 102,887 shares. Based on an average trading volume of 47,247 shares, the short-interest ratio is currently 1.1 days. Approximately 1.0% of the company's stock are short sold.

First Trust Mid Cap Growth AlphaDEX Fund Price Performance

NASDAQ:FNY opened at $100.48 on Friday. First Trust Mid Cap Growth AlphaDEX Fund has a one year low of $72.75 and a one year high of $101.86. The company's 50-day simple moving average is $94.64 and its 200 day simple moving average is $93.83. The firm has a market capitalization of $517.47 million, a P/E ratio of 24.50 and a beta of 1.20.

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

Hedge funds have recently bought and sold shares of the business. MidFirst Bank bought a new stake in First Trust Mid Cap Growth AlphaDEX Fund during the fourth quarter worth about $52,000. Founders Financial Alliance LLC bought a new stake in First Trust Mid Cap Growth AlphaDEX Fund during the third quarter worth about $192,000. Advisory Services Network LLC bought a new stake in First Trust Mid Cap Growth AlphaDEX Fund during the third quarter worth about $192,000. Brookwood Investment Group LLC bought a new stake in First Trust Mid Cap Growth AlphaDEX Fund during the third quarter worth about $226,000. Finally, Ashton Thomas Private Wealth LLC boosted its stake in First Trust Mid Cap Growth AlphaDEX Fund by 4.2% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 2,729 shares of the company's stock worth $249,000 after acquiring an additional 109 shares in the last quarter.

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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