Short Interest in First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Drops By 7.5%

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) was the recipient of a large decrease in short interest during the month of August. As of August 15th, there was short interest totalling 71,400 shares, a decrease of 7.5% from the July 31st total of 77,200 shares. Based on an average daily volume of 15,800 shares, the short-interest ratio is presently 4.5 days.

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

Several hedge funds have recently made changes to their positions in FNY. Wells Fargo & Company MN increased its position in shares of First Trust Mid Cap Growth AlphaDEX Fund by 116.7% in the 4th quarter. Wells Fargo & Company MN now owns 589,895 shares of the company’s stock valued at $40,184,000 after acquiring an additional 317,707 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in First Trust Mid Cap Growth AlphaDEX Fund by 514.0% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 81,232 shares of the company’s stock worth $5,977,000 after purchasing an additional 68,003 shares during the period. Cetera Advisors LLC acquired a new stake in First Trust Mid Cap Growth AlphaDEX Fund during the 1st quarter worth about $3,334,000. LPL Financial LLC grew its position in First Trust Mid Cap Growth AlphaDEX Fund by 8.4% during the 2nd quarter. LPL Financial LLC now owns 521,590 shares of the company’s stock worth $38,379,000 after purchasing an additional 40,280 shares during the period. Finally, Raymond James & Associates grew its position in First Trust Mid Cap Growth AlphaDEX Fund by 248.3% during the 2nd quarter. Raymond James & Associates now owns 45,986 shares of the company’s stock worth $3,384,000 after purchasing an additional 32,782 shares during the period.

First Trust Mid Cap Growth AlphaDEX Fund Stock Performance

Shares of NASDAQ FNY traded down $2.49 during mid-day trading on Tuesday, hitting $75.40. The stock had a trading volume of 17,832 shares, compared to its average volume of 16,183. The company has a 50 day moving average of $74.90 and a two-hundred day moving average of $73.67. First Trust Mid Cap Growth AlphaDEX Fund has a twelve month low of $55.33 and a twelve month high of $78.36. The firm has a market cap of $339.30 million, a PE ratio of 17.61 and a beta of 1.13.

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.