Short Interest in First Trust Small Cap Growth AlphaDEX Fund (NASDAQ:FYC) Declines By 43.7%

Key Points

• Short interest in the First Trust Small Cap Growth AlphaDEX Fund (NASDAQ:FYC) declined by 43.7% in July, with current short interest at 27,400 shares, representing 0.5% of the company's stock.
• Shares of FYC increased by 0.8% on a recent trading day, reaching a price of $84.26, with a market capitalization of approximately $480.28 million.
• Several institutional investors, including JPMorgan Chase and Northwestern Mutual Wealth Management, have recently established new positions or increased their stakes in the fund.

First Trust Small Cap Growth AlphaDEX Fund (NASDAQ:FYC - ) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 27,400 shares, adeclineof43.7% from the July 15th total of 48,700 shares. Currently,0.5% of the company's stock are short sold. Based on an average daily volume of 28,000 shares, the days-to-cover ratio is presently 1.0 days. Based on an average daily volume of 28,000 shares, the days-to-cover ratio is presently 1.0 days. Currently,0.5% of the company's stock are short sold.

First Trust Small Cap Growth AlphaDEX Fund Stock Up 0.8%

Shares of First Trust Small Cap Growth AlphaDEX Fund stock traded up $0.67 during trading hours on Monday, reaching $84.26. 14,615 shares of the stock traded hands, compared to its average volume of 38,585. The company has a 50 day moving average price of $79.60 and a 200 day moving average price of $74.55. The firm has a market capitalization of $480.28 million, a price-to-earnings ratio of 20.27 and a beta of 1.19. First Trust Small Cap Growth AlphaDEX Fund has a one year low of $59.29 and a one year high of $85.01.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FYC. JPMorgan Chase & Co. bought a new position in shares of First Trust Small Cap Growth AlphaDEX Fund during the 4th quarter valued at approximately $31,000. Concourse Financial Group Securities Inc. bought a new position in First Trust Small Cap Growth AlphaDEX Fund in the 4th quarter worth approximately $32,000. Montag A & Associates Inc. bought a new position in First Trust Small Cap Growth AlphaDEX Fund in the 1st quarter worth approximately $34,000. Capital Analysts LLC bought a new position in First Trust Small Cap Growth AlphaDEX Fund in the 1st quarter worth approximately $41,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in First Trust Small Cap Growth AlphaDEX Fund by 102.6% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 873 shares of the company's stock worth $60,000 after purchasing an additional 442 shares during the period.

First Trust Small Cap Growth AlphaDEX Fund Company Profile

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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