Short Interest in First Trust Energy AlphaDEX Fund (NYSEARCA:FXN) Decreases By 74.1%

First Trust Energy AlphaDEX Fund (NYSEARCA:FXN) was the target of a large drop in short interest in August. As of August 14th, there was short interest totaling 17,230 shares, a drop of 74.1% from the July 30th total of 66,564 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 376,764 shares, the short-interest ratio is presently 0.0 days.

First Trust Energy AlphaDEX Fund Stock Performance

Shares of FXN stock traded up $0.21 during mid-day trading on Thursday, hitting $23.37. The company’s stock had a trading volume of 275,537 shares, compared to its average volume of 1,359,968. The stock has a market cap of $400.80 million, a price-to-earnings ratio of 10.63 and a beta of 0.54. First Trust Energy AlphaDEX Fund has a 52-week low of $15.18 and a 52-week high of $23.97. The business has a 50-day moving average price of $21.54 and a 200 day moving average price of $21.32.

Hedge Funds Weigh In On First Trust Energy AlphaDEX Fund

A number of hedge funds have recently bought and sold shares of FXN. Merkkuri Wealth Advisors LLC purchased a new stake in shares of First Trust Energy AlphaDEX Fund during the 1st quarter valued at about $87,000. MinichMacGregor Wealth Management LLC purchased a new position in shares of First Trust Energy AlphaDEX Fund during the first quarter valued at approximately $693,000. Davis Investment Partners LLC bought a new position in First Trust Energy AlphaDEX Fund during the first quarter valued at approximately $1,312,000. Trust Co. of Oklahoma bought a new position in First Trust Energy AlphaDEX Fund during the first quarter valued at approximately $640,000. Finally, Silver Grove Financial Group Inc. bought a new position in First Trust Energy AlphaDEX Fund during the fourth quarter valued at approximately $39,000.

About First Trust Energy AlphaDEX Fund

The First Trust Energy AlphaDEX Fund (FXN) is an exchange-traded fund that is based on the StrataQuant Energy index. The fund tracks an index of large- and mid-cap US energy stocks. The underlying index uses multi-factor selection and tiered equal-weighting. FXN was launched on May 8, 2007 and is managed by First Trust.