Short Interest in First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Drops By 29.6%

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 49,800 shares, a decline of 29.6% from the August 31st total of 70,700 shares. Based on an average daily volume of 15,700 shares, the days-to-cover ratio is currently 3.2 days.

Hedge Funds Weigh In On First Trust Mid Cap Growth AlphaDEX Fund

A number of institutional investors and hedge funds have recently bought and sold shares of FNY. LPL Financial LLC increased its position in First Trust Mid Cap Growth AlphaDEX Fund by 8.4% in the 2nd quarter. LPL Financial LLC now owns 521,590 shares of the company’s stock valued at $38,379,000 after acquiring an additional 40,280 shares during the period. UBS Group AG grew its stake in shares of First Trust Mid Cap Growth AlphaDEX Fund by 3.0% in the fourth quarter. UBS Group AG now owns 315,443 shares of the company’s stock worth $21,488,000 after purchasing an additional 9,317 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in First Trust Mid Cap Growth AlphaDEX Fund by 514.0% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 81,232 shares of the company’s stock valued at $5,977,000 after purchasing an additional 68,003 shares during the period. Cetera Investment Advisers raised its position in First Trust Mid Cap Growth AlphaDEX Fund by 2.3% during the 2nd quarter. Cetera Investment Advisers now owns 73,195 shares of the company’s stock worth $5,386,000 after purchasing an additional 1,639 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in First Trust Mid Cap Growth AlphaDEX Fund by 248.3% during the 2nd quarter. Raymond James & Associates now owns 45,986 shares of the company’s stock worth $3,384,000 after buying an additional 32,782 shares during the period.

First Trust Mid Cap Growth AlphaDEX Fund Trading Up 0.5 %

First Trust Mid Cap Growth AlphaDEX Fund stock traded up $0.36 during mid-day trading on Friday, reaching $79.43. The company had a trading volume of 4,781 shares, compared to its average volume of 15,581. The business has a fifty day simple moving average of $76.05 and a 200 day simple moving average of $74.33. The company has a market cap of $357.45 million, a P/E ratio of 17.61 and a beta of 1.13. First Trust Mid Cap Growth AlphaDEX Fund has a fifty-two week low of $55.33 and a fifty-two week high of $79.89.

First Trust Mid Cap Growth AlphaDEX Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 26th will be given a dividend of $0.3051 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.22 dividend on an annualized basis and a yield of 1.54%. This is a positive change 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.