Short Interest in First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Increases By 1,398.7%

First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 44,765 shares, an increase of 1,398.7% from the June 15th total of 2,987 shares. Based on an average daily volume of 741,071 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.4% of the company’s stock are short sold.

First Trust Technology AlphaDEX Fund Stock Down 1.1%

Shares of FXL traded down $2.36 during mid-day trading on Friday, reaching $207.64. The company’s stock had a trading volume of 47,360 shares, compared to its average volume of 75,417. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 21.63 and a beta of 1.23. The business has a fifty day moving average of $205.47 and a 200 day moving average of $181.92. First Trust Technology AlphaDEX Fund has a 1 year low of $151.62 and a 1 year high of $224.20.

Institutional Investors Weigh In On First Trust Technology AlphaDEX Fund

Several hedge funds have recently bought and sold shares of the business. Stonekeep Investments LLC acquired a new stake in First Trust Technology AlphaDEX Fund during the 2nd quarter worth about $226,000. Focus Financial Network Inc. purchased a new position in First Trust Technology AlphaDEX Fund during the 2nd quarter valued at about $234,000. Allied Private Wealth LLC acquired a new position in shares of First Trust Technology AlphaDEX Fund in the 2nd quarter valued at about $397,000. Valeo Financial Advisors LLC acquired a new position in shares of First Trust Technology AlphaDEX Fund in the 2nd quarter valued at about $249,000. Finally, MRA Advisory Group purchased a new stake in shares of First Trust Technology AlphaDEX Fund in the second quarter worth approximately $227,000.

About First Trust Technology AlphaDEX Fund

First Trust Technology AlphaDEX Fund (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield of an equity index called the StrataQuant Technology Index (the Index). The Index is an enhanced index created and administered by the AMEX, which employs the AlphaDEX stock selection methodology to select stocks from the Russell 1000 Index. The AMEX constructs the Index by ranking the stocks, which are members of the Russell 1000 Index on growth factors, including 3, 6 and 12-month price appreciation, sales to price and one-year sales growth, and separately on value factors, including book value to price, cash flow to price and return on assets.