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

First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totaling 12,500 shares, a drop of 59.2% from the May 31st total of 30,602 shares. Based on an average daily volume of 70,027 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.3% of the shares of the company are short sold.

Institutional Trading of First Trust Materials AlphaDEX Fund

Several hedge funds have recently added to or reduced their stakes in FXZ. Royal Bank of Canada grew its position in shares of First Trust Materials AlphaDEX Fund by 31.2% during the 1st quarter. Royal Bank of Canada now owns 66,097 shares of the company’s stock valued at $3,665,000 after acquiring an additional 15,706 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of First Trust Materials AlphaDEX Fund by 141.8% in the 1st quarter. Jones Financial Companies Lllp now owns 7,415 shares of the company’s stock worth $411,000 after purchasing an additional 4,348 shares during the period. MML Investors Services LLC lifted its stake in First Trust Materials AlphaDEX Fund by 3.1% in the second quarter. MML Investors Services LLC now owns 12,803 shares of the company’s stock valued at $729,000 after purchasing an additional 384 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in First Trust Materials AlphaDEX Fund by 120.2% in the second quarter. Geneos Wealth Management Inc. now owns 5,980 shares of the company’s stock valued at $341,000 after purchasing an additional 3,264 shares during the last quarter. Finally, Banco Santander S.A. purchased a new position in First Trust Materials AlphaDEX Fund in the third quarter valued at approximately $220,000.

First Trust Materials AlphaDEX Fund Price Performance

Shares of NYSEARCA FXZ traded down $1.21 during mid-day trading on Monday, reaching $79.24. 19,496 shares of the company’s stock were exchanged, compared to its average volume of 55,302. The firm has a 50-day moving average price of $81.14 and a two-hundred day moving average price of $75.91. The firm has a market capitalization of $380.35 million, a price-to-earnings ratio of 17.24 and a beta of 1.02. First Trust Materials AlphaDEX Fund has a 52 week low of $55.67 and a 52 week high of $85.99.

First Trust Materials AlphaDEX Fund Company Profile

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.