First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Short Interest Down 54.2% in March

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) was the target of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 20,000 shares, a drop of 54.2% from the February 28th total of 43,700 shares. Based on an average daily volume of 24,000 shares, the days-to-cover ratio is currently 0.8 days. Approximately 0.4% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FNY. Wealth Enhancement Advisory Services LLC lifted its position in shares of First Trust Mid Cap Growth AlphaDEX Fund by 6.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 27,251 shares of the company’s stock valued at $2,180,000 after buying an additional 1,539 shares in the last quarter. Integrated Advisors Network LLC acquired a new stake in First Trust Mid Cap Growth AlphaDEX Fund in the 4th quarter worth about $342,000. JT Stratford LLC purchased a new stake in First Trust Mid Cap Growth AlphaDEX Fund during the 4th quarter worth approximately $1,413,000. Mpwm Advisory Solutions LLC purchased a new stake in First Trust Mid Cap Growth AlphaDEX Fund during the 4th quarter worth approximately $64,000. Finally, Cetera Investment Advisers boosted its stake in shares of First Trust Mid Cap Growth AlphaDEX Fund by 24.6% in the fourth quarter. Cetera Investment Advisers now owns 51,121 shares of the company’s stock worth $4,090,000 after acquiring an additional 10,081 shares during the last quarter.

First Trust Mid Cap Growth AlphaDEX Fund Stock Performance

Shares of FNY traded down $1.67 during trading hours on Friday, hitting $74.17. The stock had a trading volume of 13,462 shares, compared to its average volume of 18,125. The firm has a 50-day moving average price of $80.41 and a 200 day moving average price of $81.47. First Trust Mid Cap Growth AlphaDEX Fund has a fifty-two week low of $69.31 and a fifty-two week high of $88.74. The firm has a market capitalization of $370.85 million, a price-to-earnings ratio of 23.18 and a beta of 1.13.

About First Trust Mid Cap Growth AlphaDEX Fund

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.