First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Sees Large Drop in Short Interest

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) was the target of a significant 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. Approximately 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 24,000 shares, the short-interest ratio is presently 0.8 days.

First Trust Mid Cap Growth AlphaDEX Fund Stock Performance

NASDAQ:FNY traded down $1.67 during trading hours on Friday, hitting $74.17. 13,462 shares of the company’s stock traded hands, compared to its average volume of 18,097. The stock’s fifty day moving average price is $80.60 and its two-hundred day moving average price is $81.42. The firm has a market cap of $370.85 million, a P/E ratio of 23.18 and a beta of 1.13. First Trust Mid Cap Growth AlphaDEX Fund has a twelve month low of $69.31 and a twelve month high of $88.74.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Allworth Financial LP grew its stake in First Trust Mid Cap Growth AlphaDEX Fund by 23.8% in the fourth quarter. Allworth Financial LP now owns 625 shares of the company’s stock valued at $53,000 after purchasing an additional 120 shares in the last quarter. Synergy Asset Management LLC bought a new stake in First Trust Mid Cap Growth AlphaDEX Fund in the fourth quarter worth $60,000. Mpwm Advisory Solutions LLC acquired a new position in First Trust Mid Cap Growth AlphaDEX Fund during the fourth quarter worth $64,000. Oppenheimer & Co. Inc. bought a new position in First Trust Mid Cap Growth AlphaDEX Fund during the fourth quarter valued at about $208,000. Finally, Arete Wealth Advisors LLC acquired a new stake in shares of First Trust Mid Cap Growth AlphaDEX Fund in the third quarter worth about $210,000.

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.