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

First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totaling 45,274 shares, an increase of 143.8% from the December 31st total of 18,573 shares. Based on an average daily volume of 30,349 shares, the short-interest ratio is currently 1.5 days. Approximately 1.3% of the company’s stock are short sold. Approximately 1.3% of the company’s stock are short sold. Based on an average daily volume of 30,349 shares, the short-interest ratio is currently 1.5 days.

First Trust Materials AlphaDEX Fund Trading Down 3.2%

Shares of NYSEARCA:FXZ traded down $2.37 during trading on Friday, reaching $71.87. The stock had a trading volume of 93,686 shares, compared to its average volume of 58,119. The company has a market capitalization of $265.92 million, a P/E ratio of 17.24 and a beta of 1.15. The firm’s 50-day simple moving average is $67.27 and its 200 day simple moving average is $62.90. First Trust Materials AlphaDEX Fund has a one year low of $46.13 and a one year high of $75.44.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Truist Financial Corp boosted its holdings in First Trust Materials AlphaDEX Fund by 19.5% in the third quarter. Truist Financial Corp now owns 44,662 shares of the company’s stock valued at $2,751,000 after purchasing an additional 7,295 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in First Trust Materials AlphaDEX Fund by 2.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 71,138 shares of the company’s stock valued at $4,462,000 after purchasing an additional 1,367 shares during the period. MGO One Seven LLC increased its holdings in First Trust Materials AlphaDEX Fund by 10.3% in the 3rd quarter. MGO One Seven LLC now owns 4,601 shares of the company’s stock worth $283,000 after acquiring an additional 430 shares in the last quarter. CX Institutional increased its stake in shares of First Trust Materials AlphaDEX Fund by 26,611.1% during the third quarter. CX Institutional now owns 2,404 shares of the company’s stock worth $148,000 after purchasing an additional 2,395 shares in the last quarter. Finally, CWM LLC increased its stake in First Trust Materials AlphaDEX Fund by 62.0% during the 3rd quarter. CWM LLC now owns 3,095 shares of the company’s stock worth $191,000 after buying an additional 1,184 shares in the last quarter.

First Trust Materials AlphaDEX Fund Company Profile

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.