First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Sees Large Growth in Short Interest

First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 22,224 shares, a growth of 185.8% from the September 30th total of 7,775 shares. Based on an average daily volume of 48,578 shares, the short-interest ratio is presently 0.5 days. Currently, 0.2% of the company’s stock are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Trust Co. of Vermont purchased a new position in shares of First Trust Technology AlphaDEX Fund during the 2nd quarter worth approximately $45,000. Bessemer Group Inc. boosted its holdings in shares of First Trust Technology AlphaDEX Fund by 66.8% in the first quarter. Bessemer Group Inc. now owns 387 shares of the company’s stock valued at $62,000 after acquiring an additional 155 shares during the period. Security National Bank of Sioux City Iowa IA purchased a new stake in First Trust Technology AlphaDEX Fund during the 2nd quarter valued at approximately $127,000. RMG Wealth Management LLC acquired a new position in shares of First Trust Technology AlphaDEX Fund during the first quarter worth about $95,000. Finally, Western Wealth Management LLC purchased a new stake in shares of First Trust Technology AlphaDEX Fund during the 1st quarter worth $103,000.

First Trust Technology AlphaDEX Fund Stock Down 2.7%

Shares of FXL traded down $6.05 during mid-day trading on Thursday, hitting $219.89. 7,874 shares of the company traded hands, compared to its average volume of 67,625. The company has a market capitalization of $2.76 billion, a PE ratio of 21.63 and a beta of 1.26. The business has a 50 day moving average of $218.85 and a 200 day moving average of $195.05. First Trust Technology AlphaDEX Fund has a 1-year low of $151.62 and a 1-year high of $231.93.

First Trust Technology AlphaDEX Fund Company Profile

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.