Short Interest in First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Grows By 7.1%

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 54,300 shares, an increase of 7.1% from the September 30th total of 50,700 shares. Based on an average daily trading volume, of 14,700 shares, the short-interest ratio is presently 3.7 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FNY. Wealth Enhancement Advisory Services LLC lifted its holdings in First Trust Mid Cap Growth AlphaDEX Fund by 16.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 23,278 shares of the company’s stock valued at $1,760,000 after purchasing an additional 3,347 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of First Trust Mid Cap Growth AlphaDEX Fund by 1.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,811 shares of the company’s stock worth $817,000 after buying an additional 150 shares during the period. Kingsview Wealth Management LLC grew its stake in First Trust Mid Cap Growth AlphaDEX Fund by 6.2% in the 1st quarter. Kingsview Wealth Management LLC now owns 43,931 shares of the company’s stock valued at $3,322,000 after buying an additional 2,567 shares during the last quarter. Jaffetilchin Investment Partners LLC bought a new position in First Trust Mid Cap Growth AlphaDEX Fund in the 1st quarter valued at about $348,000. Finally, Cetera Investment Advisers lifted its position in First Trust Mid Cap Growth AlphaDEX Fund by 24.0% during the first quarter. Cetera Investment Advisers now owns 71,556 shares of the company’s stock worth $5,410,000 after acquiring an additional 13,854 shares during the last quarter.

First Trust Mid Cap Growth AlphaDEX Fund Stock Performance

NASDAQ:FNY traded up $0.47 during trading hours on Friday, hitting $79.57. The stock had a trading volume of 9,570 shares, compared to its average volume of 15,537. First Trust Mid Cap Growth AlphaDEX Fund has a one year low of $57.13 and a one year high of $82.18. The company has a market cap of $354.09 million, a price-to-earnings ratio of 17.61 and a beta of 1.13. The business’s 50 day moving average is $78.69 and its 200-day moving average is $75.35.

First Trust Mid Cap Growth AlphaDEX Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 26th were issued a dividend of $0.3051 per share. This represents a $1.22 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Thursday, September 26th. This is a boost from First Trust Mid Cap Growth AlphaDEX Fund’s previous quarterly dividend of $0.06.

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.