First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) Sees Significant Increase in Short Interest

First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 22,277 shares, a growth of 82.0% from the September 15th total of 12,242 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average daily trading volume, of 55,772 shares, the short-interest ratio is presently 0.4 days.

Hedge Funds Weigh In On First Trust Materials AlphaDEX Fund

Several hedge funds and other institutional investors have recently modified their holdings of FXZ. Western Wealth Management LLC purchased a new position in First Trust Materials AlphaDEX Fund in the first quarter valued at about $49,000. Security National Bank of Sioux City Iowa IA acquired a new stake in shares of First Trust Materials AlphaDEX Fund in the second quarter valued at about $91,000. Parallel Advisors LLC grew its stake in shares of First Trust Materials AlphaDEX Fund by 25.6% in the first quarter. Parallel Advisors LLC now owns 1,225 shares of the company’s stock valued at $93,000 after buying an additional 250 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of First Trust Materials AlphaDEX Fund by 75.7% in the first quarter. NewEdge Advisors LLC now owns 1,509 shares of the company’s stock valued at $115,000 after buying an additional 650 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of First Trust Materials AlphaDEX Fund during the 1st quarter valued at about $205,000.

First Trust Materials AlphaDEX Fund Stock Performance

First Trust Materials AlphaDEX Fund stock traded up $0.17 during trading on Friday, hitting $77.24. The company’s stock had a trading volume of 26,275 shares, compared to its average volume of 50,785. The stock’s fifty day moving average is $82.21 and its 200 day moving average is $80.56. First Trust Materials AlphaDEX Fund has a 1-year low of $57.87 and a 1-year high of $88.25. The stock has a market capitalization of $370.75 million, a price-to-earnings ratio of 17.24 and a beta of 1.07.

About First Trust Materials AlphaDEX Fund

The First Trust Materials AlphaDEX Fund (FXZ) is an exchange-traded fund that is based on the StrataQuant Materials index. The fund tracks a tiered, equal-weighted index of large- and mid-cap basic materials firms in the US. Holdings are selected and weighted based on growth and value metrics. FXZ was launched on May 8, 2007 and is managed by First Trust.