First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) Sees Significant Increase in Short Interest

First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totaling 23,412 shares, an increase of 87.3% from the June 15th total of 12,500 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average daily volume of 50,062 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On First Trust Materials AlphaDEX Fund

Hedge funds and other institutional investors have recently bought and sold shares of the business. D.A. Davidson & CO. acquired a new stake in First Trust Materials AlphaDEX Fund during the first quarter valued at approximately $4,120,000. Carter Financial Group INC. acquired a new position in First Trust Materials AlphaDEX Fund in the first quarter worth approximately $226,000. Sound Income Strategies LLC increased its holdings in shares of First Trust Materials AlphaDEX Fund by 12.2% in the first quarter. Sound Income Strategies LLC now owns 4,614 shares of the company’s stock valued at $357,000 after buying an additional 503 shares in the last quarter. Atlas Brown Inc. lifted its position in shares of First Trust Materials AlphaDEX Fund by 26.9% during the 1st quarter. Atlas Brown Inc. now owns 4,819 shares of the company’s stock valued at $367,000 after acquiring an additional 1,021 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in shares of First Trust Materials AlphaDEX Fund by 1.5% during the 4th 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.

First Trust Materials AlphaDEX Fund Stock Performance

Shares of FXZ stock traded down $1.13 during mid-day trading on Thursday, hitting $75.85. 92,796 shares of the stock traded hands, compared to its average volume of 55,200. First Trust Materials AlphaDEX Fund has a twelve month low of $55.67 and a twelve month high of $85.99. The firm has a market cap of $367.87 million, a price-to-earnings ratio of 17.24 and a beta of 1.03. The company’s 50-day simple moving average is $80.61 and its 200-day simple moving average is $77.11.

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.