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

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) was the recipient of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 20,000 shares, a decrease of 54.2% from the February 28th total of 43,700 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average daily trading volume, of 24,000 shares, the short-interest ratio is presently 0.8 days.

First Trust Mid Cap Growth AlphaDEX Fund Stock Down 2.2 %

Shares of NASDAQ FNY traded down $1.67 during midday trading on Friday, hitting $74.17. 13,462 shares of the company’s stock were exchanged, compared to its average volume of 18,125. The firm has a market capitalization of $370.85 million, a PE ratio of 23.18 and a beta of 1.13. First Trust Mid Cap Growth AlphaDEX Fund has a 12 month low of $69.31 and a 12 month high of $88.74. The company’s 50 day moving average price is $80.41 and its 200 day moving average price is $81.47.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LPL Financial LLC lifted its holdings in First Trust Mid Cap Growth AlphaDEX Fund by 11.9% during the 4th quarter. LPL Financial LLC now owns 569,446 shares of the company’s stock worth $45,556,000 after purchasing an additional 60,713 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of First Trust Mid Cap Growth AlphaDEX Fund during the fourth quarter worth $14,166,000. Benjamin Edwards Inc. bought a new stake in shares of First Trust Mid Cap Growth AlphaDEX Fund in the third quarter valued at about $5,558,000. Cetera Investment Advisers grew its stake in shares of First Trust Mid Cap Growth AlphaDEX Fund by 24.6% in the fourth quarter. Cetera Investment Advisers now owns 51,121 shares of the company’s stock valued at $4,090,000 after acquiring an additional 10,081 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in First Trust Mid Cap Growth AlphaDEX Fund by 375.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 46,492 shares of the company’s stock worth $3,719,000 after acquiring an additional 36,712 shares during the period.

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.