First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Sees Large Increase in Short Interest

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) was the recipient of a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 54,928 shares, an increase of 55.8% from the February 26th total of 35,263 shares. Currently, 1.1% of the shares of the company are short sold. Based on an average daily volume of 22,496 shares, the days-to-cover ratio is currently 2.4 days.

Hedge Funds Weigh In On First Trust Mid Cap Growth AlphaDEX Fund

A number of institutional investors have recently modified their holdings of the business. Proactive Wealth Strategies LLC acquired a new stake in First Trust Mid Cap Growth AlphaDEX Fund during the 4th quarter worth $269,000. Geneos Wealth Management Inc. increased its stake in First Trust Mid Cap Growth AlphaDEX Fund by 11.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 5,238 shares of the company’s stock valued at $478,000 after purchasing an additional 553 shares during the period. Pursuit Wealth Management LLC purchased a new stake in shares of First Trust Mid Cap Growth AlphaDEX Fund in the fourth quarter valued at about $1,355,000. Crux Wealth Advisors purchased a new stake in shares of First Trust Mid Cap Growth AlphaDEX Fund in the fourth quarter valued at about $1,653,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of First Trust Mid Cap Growth AlphaDEX Fund by 2.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 28,000 shares of the company’s stock worth $2,691,000 after buying an additional 689 shares during the period.

First Trust Mid Cap Growth AlphaDEX Fund Stock Down 1.6%

FNY traded down $1.45 during trading on Friday, hitting $88.48. 11,371 shares of the stock were exchanged, compared to its average volume of 27,459. The firm has a market capitalization of $460.10 million, a P/E ratio of 24.50 and a beta of 1.18. First Trust Mid Cap Growth AlphaDEX Fund has a 1-year low of $64.52 and a 1-year high of $99.44. The stock has a fifty day moving average price of $95.21 and a two-hundred day moving average price of $93.18.

About First Trust Mid Cap Growth AlphaDEX Fund

The First Trust Mid Cap Growth AlphaDEX Fund (FNY) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Mid Cap Growth index. The fund tracks a tiered equal-weighted index of mid-cap growth stocks selected by AlphaDex selection methodology from the S&P 400 Index. FNY was launched on Apr 18, 2011 and is managed by First Trust.