First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Stock Short Interest Rises 185.8%

First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) saw a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 22,224 shares, an increase of 185.8% from the September 30th total of 7,775 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 48,578 shares, the days-to-cover ratio is currently 0.5 days.

Hedge Funds Weigh In On First Trust Technology AlphaDEX Fund

A number of large investors have recently made changes to their positions in FXL. Chicago Partners Investment Group LLC bought a new stake in First Trust Technology AlphaDEX Fund during the 3rd quarter valued at about $3,892,000. International Assets Investment Management LLC grew its stake in First Trust Technology AlphaDEX Fund by 1,350.7% in the 3rd quarter. International Assets Investment Management LLC now owns 58,784 shares of the company’s stock worth $12,991,000 after acquiring an additional 54,732 shares in the last quarter. Choreo LLC bought a new position in First Trust Technology AlphaDEX Fund in the 3rd quarter worth about $373,000. D.A. Davidson & CO. purchased a new position in shares of First Trust Technology AlphaDEX Fund during the third quarter worth approximately $9,486,000. Finally, William Mack & Associates Inc. purchased a new position in shares of First Trust Technology AlphaDEX Fund during the third quarter worth approximately $151,000.

First Trust Technology AlphaDEX Fund Stock Down 3.4%

NYSEARCA FXL opened at $213.60 on Friday. First Trust Technology AlphaDEX Fund has a 52 week low of $151.62 and a 52 week high of $231.93. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 21.63 and a beta of 1.26. The company has a fifty day moving average of $218.98 and a two-hundred day moving average of $195.48.

About First Trust Technology AlphaDEX Fund

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.