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

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) was the target of a large decrease in short interest in February. As of February 13th, there was short interest totaling 33,996 shares, a decrease of 30.7% from the January 29th total of 49,051 shares. Based on an average daily volume of 24,976 shares, the days-to-cover ratio is presently 1.4 days. Approximately 0.7% of the shares of the company are short sold. Approximately 0.7% of the shares of the company are short sold. Based on an average daily volume of 24,976 shares, the days-to-cover ratio is presently 1.4 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. MidFirst Bank acquired a new stake in shares of First Trust Mid Cap Growth AlphaDEX Fund during the fourth quarter worth about $52,000. NewEdge Advisors LLC increased its holdings in First Trust Mid Cap Growth AlphaDEX Fund by 7.7% in the 4th quarter. NewEdge Advisors LLC now owns 279,644 shares of the company’s stock worth $25,502,000 after buying an additional 19,928 shares during the period. IHT Wealth Management LLC raised its position in First Trust Mid Cap Growth AlphaDEX Fund by 1,876.0% during the 4th quarter. IHT Wealth Management LLC now owns 55,783 shares of the company’s stock worth $5,087,000 after buying an additional 52,960 shares during the last quarter. Cetera Investment Advisers raised its position in First Trust Mid Cap Growth AlphaDEX Fund by 21.0% during the 4th quarter. Cetera Investment Advisers now owns 92,688 shares of the company’s stock worth $8,453,000 after buying an additional 16,102 shares during the last quarter. Finally, Equitable Holdings Inc. lifted its stake in First Trust Mid Cap Growth AlphaDEX Fund by 6.0% during the 4th quarter. Equitable Holdings Inc. now owns 22,026 shares of the company’s stock valued at $2,009,000 after acquiring an additional 1,253 shares during the period.

First Trust Mid Cap Growth AlphaDEX Fund Trading Down 1.7%

Shares of NASDAQ:FNY traded down $1.67 on Tuesday, hitting $96.18. 12,808 shares of the company were exchanged, compared to its average volume of 28,056. The firm has a market capitalization of $500.14 million, a P/E 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. The stock’s 50 day moving average price is $96.07 and its 200 day moving average price is $92.59.

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.