Short Interest in First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) Drops By 59.4%

First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 18,017 shares, a decline of 59.4% from the July 15th total of 44,358 shares. Based on an average daily volume of 46,966 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.4% of the shares of the company are short sold.

First Trust Materials AlphaDEX Fund Stock Up 1.1%

FXZ traded up $0.89 during trading on Friday, reaching $83.77. 22,243 shares of the company were exchanged, compared to its average volume of 53,720. The company’s 50-day moving average is $79.84 and its two-hundred day moving average is $78.54. The company has a market cap of $402.10 million, a price-to-earnings ratio of 17.24 and a beta of 1.04. First Trust Materials AlphaDEX Fund has a 12-month low of $57.87 and a 12-month high of $85.99.

Institutional Investors Weigh In On First Trust Materials AlphaDEX Fund

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada boosted its position in shares of First Trust Materials AlphaDEX Fund by 31.2% in the first quarter. Royal Bank of Canada now owns 66,097 shares of the company’s stock valued at $3,665,000 after acquiring an additional 15,706 shares during the period. Jones Financial Companies Lllp increased its holdings in First Trust Materials AlphaDEX Fund by 141.8% during the 1st quarter. Jones Financial Companies Lllp now owns 7,415 shares of the company’s stock worth $411,000 after acquiring an additional 4,348 shares during the period. MML Investors Services LLC increased its holdings in First Trust Materials AlphaDEX Fund by 3.1% during the 2nd quarter. MML Investors Services LLC now owns 12,803 shares of the company’s stock worth $729,000 after acquiring an additional 384 shares during the period. Geneos Wealth Management Inc. lifted its stake in First Trust Materials AlphaDEX Fund by 120.2% in the 2nd quarter. Geneos Wealth Management Inc. now owns 5,980 shares of the company’s stock worth $341,000 after purchasing an additional 3,264 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in First Trust Materials AlphaDEX Fund in the 3rd quarter worth approximately $3,080,000.

About First Trust Materials AlphaDEX Fund

The First Trust Materials AlphaDEX Fund (FXZ) is an exchange-traded fund that is based on the StrataQuant Materials index. The fund tracks a tiered, equal-weighted index of large- and mid-cap basic materials firms in the US. Holdings are selected and weighted based on growth and value metrics. FXZ was launched on May 8, 2007 and is managed by First Trust.