First Trust Energy AlphaDEX Fund (NYSEARCA:FXN) Short Interest Down 48.3% in May

First Trust Energy AlphaDEX Fund (NYSEARCA:FXN) was the target of a significant drop in short interest in the month of May. As of May 15th, there was short interest totaling 109,603 shares, a drop of 48.3% from the April 30th total of 211,801 shares. Based on an average trading volume of 1,167,412 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.2% of the shares of the stock are short sold.

First Trust Energy AlphaDEX Fund Price Performance

Shares of NYSEARCA FXN traded up $0.35 during mid-day trading on Monday, reaching $21.85. 1,082,982 shares of the company traded hands, compared to its average volume of 1,201,231. First Trust Energy AlphaDEX Fund has a fifty-two week low of $14.49 and a fifty-two week high of $23.43. The firm has a market cap of $1.17 billion, a PE ratio of 10.63 and a beta of 0.56. The stock has a fifty day simple moving average of $21.80 and a 200-day simple moving average of $19.29.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FXN. Goldman Sachs Group Inc. grew its position in First Trust Energy AlphaDEX Fund by 2.6% in the first quarter. Goldman Sachs Group Inc. now owns 105,304 shares of the company’s stock worth $1,740,000 after buying an additional 2,686 shares during the last quarter. Jane Street Group LLC acquired a new position in First Trust Energy AlphaDEX Fund in the second quarter worth approximately $1,178,000. BNP Paribas Financial Markets grew its position in First Trust Energy AlphaDEX Fund by 543.5% in the second quarter. BNP Paribas Financial Markets now owns 651,200 shares of the company’s stock worth $9,885,000 after buying an additional 550,000 shares during the last quarter. Tower Research Capital LLC TRC grew its position in First Trust Energy AlphaDEX Fund by 57.3% in the second quarter. Tower Research Capital LLC TRC now owns 81,560 shares of the company’s stock worth $1,238,000 after buying an additional 29,697 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in First Trust Energy AlphaDEX Fund in the third quarter worth approximately $186,000.

First Trust Energy AlphaDEX Fund Company Profile

The First Trust Energy AlphaDEX Fund (FXN) is an exchange-traded fund that is based on the StrataQuant Energy index. The fund tracks an index of large- and mid-cap US energy stocks. The underlying index uses multi-factor selection and tiered equal-weighting. FXN was launched on May 8, 2007 and is managed by First Trust.