First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Sees Significant Decline in Short Interest

First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) was the target of a large decline in short interest in the month of December. As of December 31st, there was short interest totaling 11,004 shares, a decline of 31.5% from the December 15th total of 16,058 shares. Based on an average trading volume of 9,138 shares, the short-interest ratio is presently 1.2 days. Currently, 0.1% of the shares of the company are sold short. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 9,138 shares, the short-interest ratio is presently 1.2 days.

First Trust Technology AlphaDEX Fund Stock Down 0.1%

Shares of NYSEARCA:FXL traded down $0.23 during midday trading on Friday, reaching $174.64. The company’s stock had a trading volume of 13,578 shares, compared to its average volume of 13,698. The stock has a fifty day moving average of $169.17 and a 200 day moving average of $165.89. First Trust Technology AlphaDEX Fund has a twelve month low of $110.83 and a twelve month high of $177.12. The firm has a market capitalization of $1.46 billion, a PE ratio of 21.63 and a beta of 1.19.

Hedge Funds Weigh In On First Trust Technology AlphaDEX Fund

Several institutional investors and hedge funds have recently modified their holdings of FXL. Genesee Capital Advisors LLC grew its holdings in First Trust Technology AlphaDEX Fund by 12.6% during the fourth quarter. Genesee Capital Advisors LLC now owns 116,333 shares of the company’s stock worth $19,577,000 after acquiring an additional 12,999 shares during the period. Stablepoint Partners LLC boosted its position in First Trust Technology AlphaDEX Fund by 2.9% in the 4th quarter. Stablepoint Partners LLC now owns 6,356 shares of the company’s stock worth $1,070,000 after purchasing an additional 180 shares in the last quarter. First Heartland Consultants Inc. purchased a new stake in First Trust Technology AlphaDEX Fund in the 4th quarter worth approximately $200,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of First Trust Technology AlphaDEX Fund by 5.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,984 shares of the company’s stock worth $698,000 after purchasing an additional 218 shares during the period. Finally, GAMMA Investing LLC purchased a new position in shares of First Trust Technology AlphaDEX Fund during the 4th quarter valued at approximately $202,000.

About First Trust Technology AlphaDEX Fund

First Trust Technology AlphaDEX Fund (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield of an equity index called the StrataQuant Technology Index (the Index). The Index is an enhanced index created and administered by the AMEX, which employs the AlphaDEX stock selection methodology to select stocks from the Russell 1000 Index. The AMEX constructs the Index by ranking the stocks, which are members of the Russell 1000 Index on growth factors, including 3, 6 and 12-month price appreciation, sales to price and one-year sales growth, and separately on value factors, including book value to price, cash flow to price and return on assets.