First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Sees Significant Increase in Short Interest

First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) was the recipient of a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 10,705 shares, a growth of 184.4% from the January 15th total of 3,764 shares. Based on an average daily volume of 12,857 shares, the days-to-cover ratio is currently 0.8 days. Approximately 0.1% of the shares of the company are short sold. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 12,857 shares, the days-to-cover ratio is currently 0.8 days.

First Trust Technology AlphaDEX Fund Stock Performance

Shares of NYSEARCA FXL traded up $2.63 during midday trading on Friday, hitting $166.49. The company’s stock had a trading volume of 7,847 shares, compared to its average volume of 14,735. First Trust Technology AlphaDEX Fund has a 1-year low of $110.83 and a 1-year high of $177.51. The firm’s fifty day moving average price is $171.37 and its 200-day moving average price is $167.63. The firm has a market cap of $1.38 billion, a P/E ratio of 21.63 and a beta of 1.19.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its stake in First Trust Technology AlphaDEX Fund by 7.8% during the 1st quarter. Royal Bank of Canada now owns 67,603 shares of the company’s stock worth $8,941,000 after buying an additional 4,878 shares during the last quarter. Jane Street Group LLC grew its position in shares of First Trust Technology AlphaDEX Fund by 20.4% during the first quarter. Jane Street Group LLC now owns 13,123 shares of the company’s stock worth $1,736,000 after acquiring an additional 2,220 shares during the last quarter. US Bancorp DE increased its holdings in shares of First Trust Technology AlphaDEX Fund by 1.5% in the 2nd quarter. US Bancorp DE now owns 20,630 shares of the company’s stock worth $3,246,000 after acquiring an additional 301 shares during the period. Atria Wealth Solutions Inc. increased its holdings in shares of First Trust Technology AlphaDEX Fund by 23.0% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 4,013 shares of the company’s stock worth $631,000 after acquiring an additional 750 shares during the period. Finally, Cypress Wealth Services LLC bought a new stake in First Trust Technology AlphaDEX Fund in the 2nd quarter valued at about $229,000.

First Trust Technology AlphaDEX Fund Company Profile

First Trust Technology AlphaDEX Fund (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield of an equity index called the StrataQuant Technology Index (the Index). The 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 Index by ranking the stocks, which are members of the Russell 1000 Index on growth factors, including 3, 6 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.