First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) Sees Significant Drop in Short Interest

First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) saw a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 53,047 shares, a drop of 26.5% from the February 12th total of 72,198 shares. Based on an average daily volume of 36,765 shares, the short-interest ratio is currently 1.4 days. Currently, 1.3% of the shares of the stock are short sold. Currently, 1.3% of the shares of the stock are short sold. Based on an average daily volume of 36,765 shares, the short-interest ratio is currently 1.4 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FXZ. NBC Securities Inc. raised its position in First Trust Materials AlphaDEX Fund by 25.7% during the fourth quarter. NBC Securities Inc. now owns 837 shares of the company’s stock valued at $54,000 after purchasing an additional 171 shares in the last quarter. AE Wealth Management LLC increased its stake in shares of First Trust Materials AlphaDEX Fund by 9.7% in the 2nd quarter. AE Wealth Management LLC now owns 2,373 shares of the company’s stock valued at $135,000 after purchasing an additional 210 shares during the last quarter. CX Institutional raised its holdings in shares of First Trust Materials AlphaDEX Fund by 26,611.1% during the 3rd quarter. CX Institutional now owns 2,404 shares of the company’s stock worth $148,000 after buying an additional 2,395 shares in the last quarter. CWM LLC lifted its position in shares of First Trust Materials AlphaDEX Fund by 62.0% during the 3rd quarter. CWM LLC now owns 3,095 shares of the company’s stock worth $191,000 after buying an additional 1,184 shares during the last quarter. Finally, Petix & Botte Co bought a new stake in shares of First Trust Materials AlphaDEX Fund during the 3rd quarter worth $211,000.

First Trust Materials AlphaDEX Fund Price Performance

FXZ traded up $0.09 on Monday, hitting $74.09. 25,274 shares of the stock were exchanged, compared to its average volume of 48,297. The firm has a market capitalization of $292.66 million, a price-to-earnings ratio of 17.24 and a beta of 1.15. First Trust Materials AlphaDEX Fund has a 12 month low of $46.13 and a 12 month high of $80.01. The business has a 50-day moving average of $74.88 and a two-hundred day moving average of $66.64.

About First Trust Materials AlphaDEX Fund

The First Trust Materials AlphaDEX Fund (FXZ) is an exchange-traded fund that is based on the StrataQuant Materials index. The fund tracks a tiered, equal-weighted index of large- and mid-cap basic materials firms in the US. Holdings are selected and weighted based on growth and value metrics. FXZ was launched on May 8, 2007 and is managed by First Trust.