First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) Shares Shorted: Short Interest Up 82.0% in September

First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 22,277 shares, a growth of 82.0% from the September 15th total of 12,242 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average daily volume of 55,772 shares, the short-interest ratio is presently 0.4 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its position in shares of First Trust Materials AlphaDEX Fund by 277.6% during the 1st quarter. Bank of America Corp DE now owns 385,160 shares of the company’s stock valued at $29,353,000 after acquiring an additional 283,145 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of First Trust Materials AlphaDEX Fund by 37.1% in the 1st 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 during the last quarter. D.A. Davidson & CO. acquired a new position in shares of First Trust Materials AlphaDEX Fund in the 1st quarter worth $4,120,000. Kestra Advisory Services LLC raised its position in shares of First Trust Materials AlphaDEX Fund by 6.0% during the first quarter. Kestra Advisory Services LLC now owns 15,167 shares of the company’s stock worth $1,156,000 after purchasing an additional 857 shares during the period. Finally, Nilsine Partners LLC raised its position in shares of First Trust Materials AlphaDEX Fund by 1.8% during the second quarter. Nilsine Partners LLC now owns 14,827 shares of the company’s stock worth $1,178,000 after purchasing an additional 261 shares during the period.

First Trust Materials AlphaDEX Fund Trading Up 0.2%

Shares of NYSEARCA FXZ traded up $0.17 during midday trading on Friday, reaching $77.24. The company’s stock had a trading volume of 26,275 shares, compared to its average volume of 50,785. First Trust Materials AlphaDEX Fund has a one year low of $57.87 and a one year high of $88.25. The company has a market cap of $370.75 million, a price-to-earnings ratio of 17.24 and a beta of 1.07. The company has a 50 day moving average price of $82.33 and a 200 day moving average price of $80.59.

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.