Short Interest in First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Rises By 132.0%

Key Points

• The short interest in the First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) rose by 132.0% in September, reaching a total of 81,200 shares.
• Various institutional investors have increased their stakes in the fund, with Geneos Wealth Management growing its position by 9.1% in Q1.
• The FNY stock price decreased by 0.8%, trading at $92.05, amidst a volume lower than its average.

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY - ) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 81,200 shares, a growth of 132.0% from the September 15th total of 35,000 shares. Based on an average daily volume of 14,800 shares, the days-to-cover ratio is presently 5.5 days. Based on an average daily volume of 14,800 shares, the days-to-cover ratio is presently 5.5 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its stake in First Trust Mid Cap Growth AlphaDEX Fund by 9.1% during the first quarter. Geneos Wealth Management Inc. now owns 2,251 shares of the company's stock worth $169,000 after buying an additional 188 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in First Trust Mid Cap Growth AlphaDEX Fund by 0.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,485 shares of the company's stock valued at $2,058,000 after purchasing an additional 234 shares in the last quarter. AssuredPartners Investment Advisors LLC grew its position in shares of First Trust Mid Cap Growth AlphaDEX Fund by 2.0% in the 1st quarter. AssuredPartners Investment Advisors LLC now owns 12,248 shares of the company's stock valued at $917,000 after acquiring an additional 236 shares during the period. IFP Advisors Inc boosted its holdings in shares of First Trust Mid Cap Growth AlphaDEX Fund by 5.3% during the 1st quarter. IFP Advisors Inc now owns 4,989 shares of the company's stock worth $374,000 after buying an additional 253 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in First Trust Mid Cap Growth AlphaDEX Fund in the 2nd quarter worth about $37,000.

First Trust Mid Cap Growth AlphaDEX Fund Stock Down 0.8%

FNY stock traded down $0.73 during midday trading on Friday, reaching $92.05. The company had a trading volume of 12,630 shares, compared to its average volume of 19,847. The stock has a 50 day moving average price of $89.51 and a 200 day moving average price of $82.47. The firm has a market capitalization of $455.62 million, a PE ratio of 24.50 and a beta of 1.13. First Trust Mid Cap Growth AlphaDEX Fund has a fifty-two week low of $64.52 and a fifty-two week high of $95.32.

About First Trust Mid Cap Growth AlphaDEX Fund

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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