First Trust Energy AlphaDEX Fund (NYSEARCA:FXN) Sees Significant Decline in Short Interest

First Trust Energy AlphaDEX Fund (NYSEARCA:FXN) saw a large decrease in short interest in June. As of June 15th, there was short interest totaling 75,947 shares, a decrease of 50.7% from the May 31st total of 154,005 shares. Based on an average daily volume of 629,319 shares, the short-interest ratio is presently 0.1 days. Approximately 0.1% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of FXN. First Trust Advisors LP bought a new position in First Trust Energy AlphaDEX Fund during the first quarter worth $672,402,000. NewEdge Advisors LLC increased its stake in First Trust Energy AlphaDEX Fund by 1,886.8% in the first quarter. NewEdge Advisors LLC now owns 684,027 shares of the company’s stock valued at $15,363,000 after purchasing an additional 649,599 shares in the last quarter. BNP Paribas Financial Markets increased its stake 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 valued at $9,885,000 after purchasing an additional 550,000 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of First Trust Energy AlphaDEX Fund by 39.0% during the first quarter. Bank of America Corp DE now owns 564,138 shares of the company’s stock valued at $12,671,000 after purchasing an additional 158,356 shares during the period. Finally, Royal Bank of Canada raised its holdings in shares of First Trust Energy AlphaDEX Fund by 131.2% during the first quarter. Royal Bank of Canada now owns 325,290 shares of the company’s stock valued at $7,306,000 after purchasing an additional 184,619 shares during the period.

First Trust Energy AlphaDEX Fund Trading Up 1.0%

FXN stock traded up $0.20 during mid-day trading on Tuesday, reaching $20.45. The company’s stock had a trading volume of 375,954 shares, compared to its average volume of 1,655,076. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 10.63 and a beta of 0.53. The business’s 50 day moving average price is $21.46 and its 200 day moving average price is $19.94. First Trust Energy AlphaDEX Fund has a 12 month low of $15.06 and a 12 month high of $23.43.

About First Trust Energy AlphaDEX Fund

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.