Short Interest in First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) Grows By 113.1%

First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 23,816 shares, a growth of 113.1% from the August 15th total of 11,177 shares. Based on an average daily volume of 23,129 shares, the short-interest ratio is currently 1.0 days. Currently, 0.5% of the company’s shares are sold short.

Hedge Funds Weigh In On First Trust Materials AlphaDEX Fund

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE lifted its stake in First Trust Materials AlphaDEX Fund by 277.6% in the first quarter. Bank of America Corp DE now owns 385,160 shares of the company’s stock valued at $29,353,000 after buying an additional 283,145 shares in the last quarter. Royal Bank of Canada raised its position in First Trust Materials AlphaDEX Fund by 37.1% during the first quarter. Royal Bank of Canada now owns 57,511 shares of the company’s stock worth $4,382,000 after acquiring an additional 15,577 shares in the last quarter. D.A. Davidson & CO. bought a new stake in First Trust Materials AlphaDEX Fund during the first quarter worth $4,120,000. Commonwealth Equity Services LLC lifted its stake in First Trust Materials AlphaDEX Fund by 1.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 57,591 shares of the company’s stock valued at $3,733,000 after acquiring an additional 854 shares during the last quarter. Finally, Harbour Investments Inc. grew its position in shares of First Trust Materials AlphaDEX Fund by 14.3% in the 4th quarter. Harbour Investments Inc. now owns 28,820 shares of the company’s stock valued at $1,868,000 after acquiring an additional 3,601 shares during the period.

First Trust Materials AlphaDEX Fund Trading Up 0.6%

NYSEARCA FXZ opened at $82.23 on Wednesday. The company has a market capitalization of $394.70 million, a PE ratio of 17.24 and a beta of 1.05. The stock has a 50-day simple moving average of $81.73 and a 200 day simple moving average of $79.97. First Trust Materials AlphaDEX Fund has a 12 month low of $57.87 and a 12 month high of $88.25.

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.