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

First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) was the recipient of a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 20,223 shares, an increase of 166.4% from the April 30th total of 7,590 shares. Based on an average daily trading volume, of 15,605 shares, the days-to-cover ratio is presently 1.3 days. Approximately 0.3% of the company’s shares are short sold.

First Trust Technology AlphaDEX Fund Stock Up 2.4%

FXL traded up $5.03 during trading on Friday, hitting $211.63. The company’s stock had a trading volume of 9,313 shares, compared to its average volume of 16,248. First Trust Technology AlphaDEX Fund has a twelve month low of $144.59 and a twelve month high of $212.41. The stock’s fifty day moving average price is $180.89 and its 200-day moving average price is $172.70. The firm has a market capitalization of $1.70 billion, a P/E ratio of 21.63 and a beta of 1.22.

Hedge Funds Weigh In On First Trust Technology AlphaDEX Fund

Institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. raised its position in shares of First Trust Technology AlphaDEX Fund by 18,257.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,477,431 shares of the company’s stock worth $248,622,000 after purchasing an additional 1,469,383 shares during the period. Virtue Capital Management LLC grew its position in First Trust Technology AlphaDEX Fund by 4,243.0% in the 4th quarter. Virtue Capital Management LLC now owns 43,517 shares of the company’s stock valued at $7,364,000 after purchasing an additional 42,515 shares during the period. LPL Financial LLC grew its position in First Trust Technology AlphaDEX Fund by 3.9% in the 4th quarter. LPL Financial LLC now owns 576,568 shares of the company’s stock valued at $97,025,000 after purchasing an additional 21,861 shares during the period. Beto Financial Group LLC acquired a new stake in First Trust Technology AlphaDEX Fund in the 4th quarter valued at $2,486,000. Finally, Genesee Capital Advisors LLC grew its position in First Trust Technology AlphaDEX Fund by 12.6% in the 4th quarter. Genesee Capital Advisors LLC now owns 116,333 shares of the company’s stock valued at $19,577,000 after purchasing an additional 12,999 shares during the period.

First Trust Technology AlphaDEX Fund Company Profile

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.