First Trust Financials AlphaDEX Fund (NYSEARCA:FXO) Sees Significant Growth in Short Interest

First Trust Financials AlphaDEX Fund (NYSEARCA:FXO) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totaling 24,849 shares, a growth of 245.9% from the September 30th total of 7,184 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 109,691 shares, the days-to-cover ratio is presently 0.2 days.

First Trust Financials AlphaDEX Fund Trading Down 0.7%

NYSEARCA:FXO traded down $0.43 on Friday, hitting $64.12. The company had a trading volume of 32,809 shares, compared to its average volume of 180,266. First Trust Financials AlphaDEX Fund has a 52 week low of $54.40 and a 52 week high of $67.38. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 12.42 and a beta of 0.94. The firm has a 50 day moving average of $63.74 and a two-hundred day moving average of $61.50.

Institutional Investors Weigh In On First Trust Financials AlphaDEX Fund

Several institutional investors and hedge funds have recently made changes to their positions in FXO. IFP Advisors Inc increased its stake in shares of First Trust Financials AlphaDEX Fund by 1.7% in the 2nd quarter. IFP Advisors Inc now owns 23,208 shares of the company’s stock valued at $1,450,000 after acquiring an additional 385 shares in the last quarter. Ameritas Advisory Services LLC raised its position in shares of First Trust Financials AlphaDEX Fund by 62.1% in the second quarter. Ameritas Advisory Services LLC now owns 17,083 shares of the company’s stock valued at $1,067,000 after purchasing an additional 6,547 shares during the period. Concurrent Investment Advisors LLC grew its stake in First Trust Financials AlphaDEX Fund by 1.7% during the second quarter. Concurrent Investment Advisors LLC now owns 32,847 shares of the company’s stock valued at $2,052,000 after acquiring an additional 553 shares in the last quarter. Trust Co. of Vermont purchased a new stake in First Trust Financials AlphaDEX Fund in the 2nd quarter worth approximately $26,000. Finally, HF Advisory Group LLC increased its holdings in shares of First Trust Financials AlphaDEX Fund by 1.9% in the 2nd quarter. HF Advisory Group LLC now owns 11,790 shares of the company’s stock worth $736,000 after buying an additional 224 shares during the last quarter.

About First Trust Financials AlphaDEX Fund

First Trust Financials AlphaDEX Fund (the Fund) is an exchange-traded fund. It seeks investment results that correspond generally to the price and yield of an equity index called the StrataQuant Financials Index (the Index). The StrataQuant Financials 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 StrataQuant Financials Index by ranking the stocks, which are members of the Russell 1000 Index on growth factors, including three, six 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.