Short Interest in First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Drops By 80.1%

First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) was the recipient of a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 10,561 shares, a drop of 80.1% from the July 15th total of 53,134 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 124,363 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On First Trust Technology AlphaDEX Fund

Institutional investors and hedge funds have recently modified their holdings of the company. Capital Square LLC acquired a new position in First Trust Technology AlphaDEX Fund during the 2nd quarter worth about $440,000. Trust Co. of Vermont acquired a new position in First Trust Technology AlphaDEX Fund in the 2nd quarter valued at about $45,000. Stonekeep Investments LLC acquired a new position in First Trust Technology AlphaDEX Fund in the 2nd quarter valued at about $226,000. Focus Financial Network Inc. acquired a new position in First Trust Technology AlphaDEX Fund in the 2nd quarter valued at about $234,000. Finally, Allied Private Wealth LLC acquired a new stake in shares of First Trust Technology AlphaDEX Fund during the second quarter worth about $397,000.

First Trust Technology AlphaDEX Fund Stock Down 0.4%

NYSEARCA FXL traded down $0.91 on Friday, reaching $224.01. The stock had a trading volume of 8,465 shares, compared to its average volume of 75,457. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 21.63 and a beta of 1.24. First Trust Technology AlphaDEX Fund has a 12-month low of $151.62 and a 12-month high of $225.59. The stock has a fifty day moving average price of $207.26 and a two-hundred day moving average price of $187.41.

About First Trust Technology AlphaDEX Fund

First Trust Technology AlphaDEX Fund (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield of an equity index called the StrataQuant Technology Index (the Index). The Index is an enhanced index created and administered by the AMEX, which employs the AlphaDEX stock selection methodology to select stocks from the Russell 1000 Index. The AMEX constructs the Index by ranking the stocks, which are members of the Russell 1000 Index on growth factors, including 3, 6 and 12-month price appreciation, sales to price and one-year sales growth, and separately on value factors, including book value to price, cash flow to price and return on assets.