Short Interest in First Trust Financials AlphaDEX Fund (NYSEARCA:FXO) Decreases By 42.0%

First Trust Financials AlphaDEX Fund (NYSEARCA:FXO) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 30,764 shares, a drop of 42.0% from the June 15th total of 53,010 shares. Based on an average trading volume of 41,029 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.2% of the shares of the company are sold short.

First Trust Financials AlphaDEX Fund Price Performance

Shares of FXO traded up $1.00 on Thursday, reaching $65.15. 43,627 shares of the stock traded hands, compared to its average volume of 249,943. The stock’s 50-day moving average price is $60.85 and its 200-day moving average price is $59.87. First Trust Financials AlphaDEX Fund has a 12 month low of $54.40 and a 12 month high of $65.18. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 12.42 and a beta of 0.94.

Hedge Funds Weigh In On First Trust Financials AlphaDEX Fund

Several institutional investors have recently added to or reduced their stakes in FXO. Allspring Global Investments Holdings LLC acquired a new position in shares of First Trust Financials AlphaDEX Fund during the fourth quarter worth approximately $27,000. Russell Investments Group Ltd. grew its position in shares of First Trust Financials AlphaDEX Fund by 279.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 543 shares of the company’s stock worth $30,000 after buying an additional 400 shares during the period. Mcguire Capital Advisors Inc. bought a new stake in shares of First Trust Financials AlphaDEX Fund during the 4th quarter valued at $30,000. Fifth Third Bancorp bought a new stake in First Trust Financials AlphaDEX Fund in the fourth quarter valued at about $36,000. Finally, Godfrey Financial Associates Inc. bought a new stake in shares of First Trust Financials AlphaDEX Fund in the 4th quarter valued at about $38,000.

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.