Short Interest in First Trust Small Cap Growth AlphaDEX Fund (NASDAQ:FYC) Expands By 237.6%

Key Points

• Short interest in FYC surged to 36,281 shares as of July 15, up 237.6% from 10,747 shares on June 30. Even so, only about 0.3% of shares are sold short, with a days-to-cover ratio of 0.5 days.
• Institutional investors have been active in the fund, with several firms initiating new positions in the second quarter, including Redhawk Wealth Advisors Inc. and Fulcrum Equity Management. World Equity Group also increased its stake by 6.6%.
• FYC’s shares and distribution details show the ETF recently traded at $117.93, below its 50-day average but above its 200-day average. It also paid a quarterly dividend of $0.1297 per share, equivalent to a 0.4% annualized yield.

First Trust Small Cap Growth AlphaDEX Fund (NASDAQ:FYC - ) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 36,281 shares, a growth of 237.6% from the June 30th total of 10,747 shares. Based on an average trading volume of 67,927 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.3% of the company's shares are sold short.

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

Hedge funds have recently bought and sold shares of the company. Fulcrum Equity Management bought a new position in shares of First Trust Small Cap Growth AlphaDEX Fund in the second quarter worth about $249,000. Redhawk Wealth Advisors Inc. acquired a new position in shares of First Trust Small Cap Growth AlphaDEX Fund during the 2nd quarter worth about $5,057,000. Wealthcare Advisory Partners LLC bought a new stake in First Trust Small Cap Growth AlphaDEX Fund during the 2nd quarter valued at approximately $728,000. World Equity Group Inc. boosted its stake in First Trust Small Cap Growth AlphaDEX Fund by 6.6% during the 2nd quarter. World Equity Group Inc. now owns 6,368 shares of the company's stock valued at $811,000 after purchasing an additional 395 shares during the period. Finally, Worth Asset Management LLC acquired a new stake in First Trust Small Cap Growth AlphaDEX Fund in the 2nd quarter valued at approximately $316,000.

First Trust Small Cap Growth AlphaDEX Fund Stock Performance

Shares of NASDAQ:FYC traded down $0.75 during mid-day trading on Friday, hitting $117.93. The stock had a trading volume of 52,559 shares, compared to its average volume of 70,080. The company's 50 day moving average is $118.92 and its 200-day moving average is $108.24. First Trust Small Cap Growth AlphaDEX Fund has a 12-month low of $77.11 and a 12-month high of $127.57. The company has a market cap of $1.25 billion, a PE ratio of 20.27 and a beta of 1.16.

First Trust Small Cap Growth AlphaDEX Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were paid a $0.1297 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Thursday, June 25th.

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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