Short Interest in First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Drops By 80.1%

First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 10,561 shares, a decline of 80.1% from the July 15th total of 53,134 shares. Based on an average trading volume of 124,363 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FXL. Capital Square LLC acquired a new stake in shares of First Trust Technology AlphaDEX Fund during the 2nd quarter valued at about $440,000. Trust Co. of Vermont acquired a new position in shares of First Trust Technology AlphaDEX Fund during the 2nd quarter worth approximately $45,000. Stonekeep Investments LLC purchased a new position in shares of First Trust Technology AlphaDEX Fund during the 2nd quarter valued at approximately $226,000. Focus Financial Network Inc. purchased a new position in shares of First Trust Technology AlphaDEX Fund during the 2nd quarter valued at approximately $234,000. Finally, Allied Private Wealth LLC acquired a new stake in First Trust Technology AlphaDEX Fund in the 2nd quarter valued at $397,000.

First Trust Technology AlphaDEX Fund Stock Up 1.8%

Shares of NYSEARCA FXL traded up $3.92 during midday trading on Thursday, reaching $224.92. 23,157 shares of the stock were exchanged, compared to its average volume of 75,893. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 21.63 and a beta of 1.24. First Trust Technology AlphaDEX Fund has a twelve month low of $151.62 and a twelve month high of $225.59. The firm has a 50-day simple moving average of $207.26 and a two-hundred day simple moving average of $187.41.

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.