Short Interest in First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Declines By 39.6%

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 36,249 shares, a decline of 39.6% from the July 15th total of 60,036 shares. Based on an average daily trading volume, of 23,324 shares, the days-to-cover ratio is currently 1.6 days. Currently, 0.6% of the company’s shares are short sold.

First Trust Mid Cap Growth AlphaDEX Fund Price Performance

FNY traded down $2.25 during trading on Tuesday, hitting $105.72. 4,277 shares of the stock traded hands, compared to its average volume of 26,985. The firm has a market capitalization of $597.29 million, a P/E ratio of 24.50 and a beta of 1.19. The firm has a 50-day moving average of $105.67 and a 200 day moving average of $100.26. First Trust Mid Cap Growth AlphaDEX Fund has a 12-month low of $83.42 and a 12-month high of $111.06.

Hedge Funds Weigh In On First Trust Mid Cap Growth AlphaDEX Fund

Several hedge funds and other institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new stake in shares of First Trust Mid Cap Growth AlphaDEX Fund in the first quarter worth about $403,000. Jones Financial Companies Lllp raised its position in First Trust Mid Cap Growth AlphaDEX Fund by 62.2% during the 1st quarter. Jones Financial Companies Lllp now owns 5,098 shares of the company’s stock valued at $354,000 after purchasing an additional 1,955 shares during the last quarter. Goldman Sachs Group Inc. raised its position in First Trust Mid Cap Growth AlphaDEX Fund by 5.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 52,795 shares of the company’s stock valued at $3,953,000 after purchasing an additional 2,795 shares during the last quarter. Jane Street Group LLC purchased a new stake in First Trust Mid Cap Growth AlphaDEX Fund in the 1st quarter worth approximately $362,000. Finally, JPMorgan Chase & Co. lifted its holdings in First Trust Mid Cap Growth AlphaDEX Fund by 102.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,131 shares of the company’s stock worth $341,000 after buying an additional 2,092 shares during the period.

First Trust Mid Cap Growth AlphaDEX Fund Company Profile

The First Trust Mid Cap Growth AlphaDEX Fund (FNY) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Mid Cap Growth index. The fund tracks a tiered equal-weighted index of mid-cap growth stocks selected by AlphaDex selection methodology from the S&P 400 Index. FNY was launched on Apr 18, 2011 and is managed by First Trust.