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

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totaling 73,339 shares, an increase of 36.0% from the December 31st total of 53,921 shares. Based on an average daily trading volume, of 38,643 shares, the days-to-cover ratio is currently 1.9 days. Approximately 1.4% of the company’s stock are sold short. Approximately 1.4% of the company’s stock are sold short. Based on an average daily trading volume, of 38,643 shares, the days-to-cover ratio is currently 1.9 days.

First Trust Mid Cap Growth AlphaDEX Fund Stock Up 1.4%

NASDAQ:FNY opened at $96.06 on Tuesday. The stock’s 50-day simple moving average is $94.34 and its 200 day simple moving average is $90.83. First Trust Mid Cap Growth AlphaDEX Fund has a twelve month low of $64.52 and a twelve month high of $99.44. The firm has a market capitalization of $499.49 million, a PE ratio of 24.50 and a beta of 1.18.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new stake in shares of First Trust Mid Cap Growth AlphaDEX Fund in the second quarter valued at $37,000. Founders Financial Alliance LLC acquired a new stake in shares of First Trust Mid Cap Growth AlphaDEX Fund in the 3rd quarter worth $192,000. Advisory Services Network LLC purchased a new position in shares of First Trust Mid Cap Growth AlphaDEX Fund in the 3rd quarter valued at about $192,000. Brookwood Investment Group LLC purchased a new position in shares of First Trust Mid Cap Growth AlphaDEX Fund in the third quarter valued at $226,000. Finally, Koshinski Asset Management Inc. purchased a new position in shares of First Trust Mid Cap Growth AlphaDEX Fund during the 2nd quarter worth approximately $208,000.

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.