First Trust Small Cap Growth AlphaDEX Fund (NASDAQ:FYC) Sees Significant Drop in Short Interest

First Trust Small Cap Growth AlphaDEX Fund (NASDAQ:FYC) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 7,865 shares, a decline of 67.0% from the September 30th total of 23,844 shares. Based on an average daily trading volume, of 100,742 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.1% of the shares of the company are short sold.

First Trust Small Cap Growth AlphaDEX Fund Stock Up 0.3%

FYC traded up $0.38 during midday trading on Thursday, hitting $116.80. 42,052 shares of the company traded hands, compared to its average volume of 74,770. The company’s 50-day moving average is $116.69 and its 200 day moving average is $111.72. The firm has a market capitalization of $1.38 billion, a PE ratio of 20.27 and a beta of 1.19. First Trust Small Cap Growth AlphaDEX Fund has a 52 week low of $86.85 and a 52 week high of $127.57.

Institutional Investors Weigh In On First Trust Small Cap Growth AlphaDEX Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in FYC. LexAurum Advisors LLC raised its stake in First Trust Small Cap Growth AlphaDEX Fund by 2.9% during the 3rd quarter. LexAurum Advisors LLC now owns 4,223 shares of the company’s stock valued at $487,000 after buying an additional 121 shares during the last quarter. World Equity Group Inc. boosted its stake in shares of First Trust Small Cap Growth AlphaDEX Fund by 6.6% in the 2nd quarter. World Equity Group Inc. now owns 6,368 shares of the company’s stock worth $811,000 after buying an additional 395 shares during the last quarter. Bullseye Investment Management LLC purchased a new position in shares of First Trust Small Cap Growth AlphaDEX Fund in the 2nd quarter worth $51,000. Western Wealth Management LLC grew its holdings in shares of First Trust Small Cap Growth AlphaDEX Fund by 4.7% in the first quarter. Western Wealth Management LLC now owns 11,492 shares of the company’s stock worth $1,114,000 after acquiring an additional 511 shares during the period. Finally, XML Financial LLC grew its holdings in shares of First Trust Small Cap Growth AlphaDEX Fund by 22.9% in the second quarter. XML Financial LLC now owns 2,950 shares of the company’s stock worth $376,000 after acquiring an additional 550 shares during the period.

About First Trust Small Cap Growth AlphaDEX Fund

The First Trust Small Cap Growth AlphaDEX Fund (FYC) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Small Cap Growth index. The fund tracks a quant-driven index that select stocks from a small-cap growth universe in an attempt to outperform the market. FYC was launched on Apr 18, 2011 and is managed by First Trust.