First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) Sees Significant Decrease in Short Interest

First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) was the recipient of a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 11,177 shares, a decline of 38.0% from the July 30th total of 18,017 shares. Based on an average daily trading volume, of 46,005 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.2% of the company’s shares are short sold.

Institutional Investors Weigh In On First Trust Materials AlphaDEX Fund

A number of institutional investors and hedge funds have recently made changes to their positions in FXZ. Western Wealth Management LLC purchased a new position in shares of First Trust Materials AlphaDEX Fund during the first quarter valued at approximately $49,000. Parallel Advisors LLC grew its position in First Trust Materials AlphaDEX Fund by 25.6% during the first quarter. Parallel Advisors LLC now owns 1,225 shares of the company’s stock valued at $93,000 after buying an additional 250 shares during the period. NewEdge Advisors LLC grew its position in shares of First Trust Materials AlphaDEX Fund by 75.7% during the 1st quarter. NewEdge Advisors LLC now owns 1,509 shares of the company’s stock valued at $115,000 after acquiring an additional 650 shares during the period. Sanctuary Advisors LLC purchased a new stake in First Trust Materials AlphaDEX Fund in the first quarter worth $205,000. Finally, Fifth Third Bancorp increased its holdings in First Trust Materials AlphaDEX Fund by 42.9% in the 1st quarter. Fifth Third Bancorp now owns 2,859 shares of the company’s stock worth $218,000 after acquiring an additional 859 shares during the last quarter.

First Trust Materials AlphaDEX Fund Stock Performance

NYSEARCA:FXZ opened at $86.02 on Monday. The stock has a market capitalization of $412.90 million, a price-to-earnings ratio of 17.24 and a beta of 1.04. The firm has a fifty day simple moving average of $80.47 and a two-hundred day simple moving average of $79.37. First Trust Materials AlphaDEX Fund has a 12 month low of $57.87 and a 12 month high of $88.25.

About First Trust Materials AlphaDEX Fund

The First Trust Materials AlphaDEX Fund (FXZ) is an exchange-traded fund that is based on the StrataQuant Materials index. The fund tracks a tiered, equal-weighted index of large- and mid-cap basic materials firms in the US. Holdings are selected and weighted based on growth and value metrics. FXZ was launched on May 8, 2007 and is managed by First Trust.