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

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 - Get Free Report) saw a large decline in short interest in July. As of July 31st, there was short interest totaling 27,400 shares, adeclineof43.7% from the July 15th total of 48,700 shares. Approximately0.5% of the shares of the stock are sold short. Based on an average daily volume of 28,000 shares, the short-interest ratio is currently 1.0 days. Based on an average daily volume of 28,000 shares, the short-interest ratio is currently 1.0 days. Approximately0.5% of the shares of the stock are sold short.

First Trust Small Cap Growth AlphaDEX Fund Price Performance

Shares of NASDAQ FYC traded up $3.00 during trading on Friday, hitting $86.31. 34,254 shares of the company were exchanged, compared to its average volume of 38,620. The company has a market cap of $491.97 million, a price-to-earnings ratio of 20.27 and a beta of 1.19. First Trust Small Cap Growth AlphaDEX Fund has a 1 year low of $59.29 and a 1 year high of $86.66. The firm's fifty day moving average price is $80.33 and its 200 day moving average price is $74.74.

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 business. Kestra Advisory Services LLC boosted its position in shares of First Trust Small Cap Growth AlphaDEX Fund by 0.8% in the 1st quarter. Kestra Advisory Services LLC now owns 17,168 shares of the company's stock worth $1,181,000 after buying an additional 142 shares in the last quarter. Independent Wealth Network Inc. boosted its position in shares of First Trust Small Cap Growth AlphaDEX Fund by 2.3% in the 2nd quarter. Independent Wealth Network Inc. now owns 8,163 shares of the company's stock worth $650,000 after buying an additional 186 shares in the last quarter. US Bancorp DE boosted its position in shares of First Trust Small Cap Growth AlphaDEX Fund by 0.9% in the 2nd quarter. US Bancorp DE now owns 20,463 shares of the company's stock worth $1,632,000 after buying an additional 186 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of First Trust Small Cap Growth AlphaDEX Fund by 2.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 8,377 shares of the company's stock worth $576,000 after buying an additional 225 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its position in shares of First Trust Small Cap Growth AlphaDEX Fund by 7.8% in the 1st quarter. Stratos Wealth Partners LTD. now owns 3,133 shares of the company's stock worth $216,000 after buying an additional 226 shares in 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.