First Trust Energy AlphaDEX Fund (NYSEARCA:FXN) Sees Significant Decrease in Short Interest

First Trust Energy AlphaDEX Fund (NYSEARCA:FXN) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 189,618 shares, a drop of 62.6% from the September 30th total of 506,713 shares. Approximately 1.2% of the shares of the company are short sold. Based on an average daily trading volume, of 625,541 shares, the days-to-cover ratio is currently 0.3 days.

First Trust Energy AlphaDEX Fund Trading Up 1.6%

Shares of NYSEARCA FXN traded up $0.40 during midday trading on Friday, reaching $25.00. 835,272 shares of the company were exchanged, compared to its average volume of 1,202,683. The stock has a fifty day simple moving average of $23.54 and a 200 day simple moving average of $21.52. First Trust Energy AlphaDEX Fund has a 1 year low of $15.64 and a 1 year high of $25.08. The stock has a market cap of $407.50 million, a P/E ratio of 10.63 and a beta of 0.62.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Sound Income Strategies LLC raised its stake in First Trust Energy AlphaDEX Fund by 53.4% during the 1st quarter. Sound Income Strategies LLC now owns 3,575 shares of the company’s stock worth $78,000 after buying an additional 1,244 shares during the period. Rockefeller Capital Management L.P. raised its position in shares of First Trust Energy AlphaDEX Fund by 35.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,795 shares of the company’s stock valued at $79,000 after buying an additional 1,250 shares in the last quarter. Parallel Advisors LLC grew its position in shares of First Trust Energy AlphaDEX Fund by 440.8% during the 1st quarter. Parallel Advisors LLC now owns 7,031 shares of the company’s stock worth $158,000 after buying an additional 5,731 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of First Trust Energy AlphaDEX Fund in the second quarter valued at about $203,000. Finally, Capital Square LLC purchased a new position in First Trust Energy AlphaDEX Fund during the third quarter worth about $231,000.

First Trust Energy AlphaDEX Fund Company Profile

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.