First Trust Energy AlphaDEX Fund (NYSEARCA:FXN) Sees Significant Growth in Short Interest

First Trust Energy AlphaDEX Fund (NYSEARCA:FXN) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 66,227 shares, an increase of 176.9% from the August 31st total of 23,916 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily volume of 527,845 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FXN. First Trust Advisors LP purchased a new position in shares of First Trust Energy AlphaDEX Fund during the 1st quarter valued at about $672,402,000. NewEdge Advisors LLC raised its position in First Trust Energy AlphaDEX Fund by 1,886.8% in the 1st quarter. NewEdge Advisors LLC now owns 684,027 shares of the company’s stock worth $15,363,000 after purchasing an additional 649,599 shares during the period. Bank of America Corp DE boosted its holdings in First Trust Energy AlphaDEX Fund by 39.0% during the 1st quarter. Bank of America Corp DE now owns 564,138 shares of the company’s stock valued at $12,671,000 after acquiring an additional 158,356 shares during the period. Royal Bank of Canada grew its holdings in shares of First Trust Energy AlphaDEX Fund by 131.2% in the first quarter. Royal Bank of Canada now owns 325,290 shares of the company’s stock worth $7,306,000 after purchasing an additional 184,619 shares during the last quarter. Finally, D.A. Davidson & CO. grew its holdings in First Trust Energy AlphaDEX Fund by 2,201.2% in the 1st quarter. D.A. Davidson & CO. now owns 251,057 shares of the company’s stock worth $5,639,000 after acquiring an additional 240,147 shares during the last quarter.

First Trust Energy AlphaDEX Fund Price Performance

Shares of NYSEARCA:FXN traded down $0.12 on Monday, hitting $22.25. The company’s stock had a trading volume of 556,168 shares, compared to its average volume of 1,261,008. The company has a 50-day simple moving average of $22.87 and a 200 day simple moving average of $21.91. The company has a market capitalization of $364.98 million, a PE ratio of 10.63 and a beta of 0.55. First Trust Energy AlphaDEX Fund has a 1 year low of $15.18 and a 1 year high of $24.47.

About First Trust Energy AlphaDEX Fund

The First Trust Energy AlphaDEX Fund (FXN) is an exchange-traded fund that is based on the StrataQuant Energy index. The fund tracks an index of large- and mid-cap US energy stocks. The underlying index uses multi-factor selection and tiered equal-weighting. FXN was launched on May 8, 2007 and is managed by First Trust.