Short Interest in First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) Grows By 89.5%

First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) was the recipient of a large increase in short interest in July. As of July 15th, there was short interest totaling 44,358 shares, an increase of 89.5% from the June 30th total of 23,412 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average trading volume of 53,832 shares, the short-interest ratio is currently 0.8 days.

First Trust Materials AlphaDEX Fund Trading Down 1.9%

Shares of FXZ stock opened at $76.31 on Thursday. First Trust Materials AlphaDEX Fund has a 12 month low of $55.67 and a 12 month high of $85.99. The company has a market capitalization of $366.29 million, a P/E ratio of 17.24 and a beta of 1.03. The stock has a 50 day moving average of $80.01 and a two-hundred day moving average of $77.83.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in First Trust Materials AlphaDEX Fund by 277.6% during the first quarter. Bank of America Corp DE now owns 385,160 shares of the company’s stock worth $29,353,000 after buying an additional 283,145 shares in the last quarter. Summit Financial LLC raised its stake in shares of First Trust Materials AlphaDEX Fund by 813.9% in the 4th quarter. Summit Financial LLC now owns 63,029 shares of the company’s stock valued at $4,086,000 after buying an additional 56,132 shares in the last quarter. D.A. Davidson & CO. bought a new position in shares of First Trust Materials AlphaDEX Fund during the 1st quarter worth about $4,120,000. BNP Paribas Financial Markets bought a new position in shares of First Trust Materials AlphaDEX Fund during the 3rd quarter worth about $3,080,000. Finally, Ameriprise Financial Inc. boosted its position in shares of First Trust Materials AlphaDEX Fund by 15.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 124,960 shares of the company’s stock valued at $7,662,000 after acquiring an additional 16,382 shares in the last quarter.

About First Trust Materials AlphaDEX Fund

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.