First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Sees Large Decline in Short Interest

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) saw a significant drop in short interest in February. As of February 28th, there was short interest totalling 43,700 shares, a drop of 17.7% from the February 13th total of 53,100 shares. Based on an average trading volume of 22,300 shares, the days-to-cover ratio is currently 2.0 days. Currently, 0.9% of the company’s stock are sold short.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FNY. Wealth Enhancement Advisory Services LLC grew its stake in shares of First Trust Mid Cap Growth AlphaDEX Fund by 6.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 27,251 shares of the company’s stock valued at $2,180,000 after acquiring an additional 1,539 shares in the last quarter. Integrated Advisors Network LLC acquired a new stake in First Trust Mid Cap Growth AlphaDEX Fund during the 4th quarter valued at approximately $342,000. JT Stratford LLC purchased a new stake in First Trust Mid Cap Growth AlphaDEX Fund during the 4th quarter worth approximately $1,413,000. Mpwm Advisory Solutions LLC purchased a new stake in First Trust Mid Cap Growth AlphaDEX Fund during the 4th quarter worth approximately $64,000. Finally, Cetera Investment Advisers raised its position in shares of First Trust Mid Cap Growth AlphaDEX Fund by 24.6% in the 4th quarter. Cetera Investment Advisers now owns 51,121 shares of the company’s stock valued at $4,090,000 after purchasing an additional 10,081 shares in the last quarter.

First Trust Mid Cap Growth AlphaDEX Fund Stock Up 0.1 %

Shares of FNY traded up $0.10 during mid-day trading on Thursday, reaching $75.99. 1,841 shares of the stock traded hands, compared to its average volume of 17,957. The firm has a market cap of $379.95 million, a price-to-earnings ratio of 22.08 and a beta of 1.13. The stock has a fifty day simple moving average of $81.22 and a 200 day simple moving average of $81.43. First Trust Mid Cap Growth AlphaDEX Fund has a 12-month low of $69.31 and a 12-month high of $88.74.

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.