First Trust Financials AlphaDEX Fund (NYSEARCA:FXO) Sees Significant Growth in Short Interest

First Trust Financials AlphaDEX Fund (NYSEARCA:FXO) was the recipient of a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 10,452 shares, an increase of 67.3% from the May 14th total of 6,247 shares. Based on an average daily volume of 78,869 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the shares of the stock are short sold.

First Trust Financials AlphaDEX Fund Price Performance

NYSEARCA FXO traded up $0.59 during mid-day trading on Tuesday, hitting $61.68. The stock had a trading volume of 47,197 shares, compared to its average volume of 284,404. The firm’s 50 day moving average is $59.18 and its 200 day moving average is $59.48. First Trust Financials AlphaDEX Fund has a twelve month low of $53.13 and a twelve month high of $62.44. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 12.42 and a beta of 0.94.

Institutional Trading of First Trust Financials AlphaDEX Fund

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