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

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 73,339 shares, a growth of 36.0% from the December 31st total of 53,921 shares. Currently, 1.4% of the company’s stock are short sold. Based on an average daily trading volume, of 38,643 shares, the days-to-cover ratio is presently 1.9 days. Based on an average daily trading volume, of 38,643 shares, the days-to-cover ratio is presently 1.9 days. Currently, 1.4% of the company’s stock are short sold.

Hedge Funds Weigh In On First Trust Mid Cap Growth AlphaDEX Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new stake in First Trust Mid Cap Growth AlphaDEX Fund during the second quarter worth approximately $37,000. Founders Financial Alliance LLC acquired a new stake in First Trust Mid Cap Growth AlphaDEX Fund during the 3rd quarter worth $192,000. Advisory Services Network LLC purchased a new stake in First Trust Mid Cap Growth AlphaDEX Fund in the third quarter valued at $192,000. Brookwood Investment Group LLC purchased a new stake in First Trust Mid Cap Growth AlphaDEX Fund in the third quarter valued at $226,000. Finally, Koshinski Asset Management Inc. acquired a new position in First Trust Mid Cap Growth AlphaDEX Fund in the second quarter valued at $208,000.

First Trust Mid Cap Growth AlphaDEX Fund Price Performance

Shares of NASDAQ FNY opened at $95.48 on Tuesday. The business has a 50-day moving average of $94.34 and a two-hundred day moving average of $90.83. The company has a market capitalization of $496.50 million, a price-to-earnings ratio of 24.50 and a beta of 1.18. First Trust Mid Cap Growth AlphaDEX Fund has a 1 year low of $64.52 and a 1 year high of $99.44.

About First Trust Mid Cap Growth AlphaDEX Fund

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.