Short Interest in First Trust Mid Cap Growth AlphaDEX Fund Expands By 91.5%

The First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) experienced a substantial increase in short interest during December. As of December 31st, the short interest had escalated to 67,400 shares, marking a significant rise of 91.5% from the December 15th figure of 35,200 shares. With an average daily trading volume of 13,800 shares, this leads to a days-to-cover ratio of approximately 4.9 days.

Institutional Investors Take Notice of First Trust Mid Cap Growth AlphaDEX Fund

Recently, several large investors have made moves to buy or sell shares of the First Trust Mid Cap Growth AlphaDEX Fund. Zions Bancorporation N.A. established a new stake in the fund during the second quarter, valued at $132,000. Meanwhile, Arete Wealth Advisors LLC acquired a new position during the third quarter worth $210,000. Gateway Wealth Partners LLC also made a new investment in the second quarter, valued at $236,000, as did Nations Financial Group Inc. IA ADV in the third quarter, with a position worth $243,000. Additionally, Sanctuary Advisors LLC purchased shares in the second quarter valued at $338,000.

First Trust Mid Cap Growth AlphaDEX Fund Experiences Stock Price Increase

During midday trading on Tuesday, the NASDAQ FNY saw its stock price rise by 1.5%, reaching $81.39. The trading volume for the day was 34,727 shares, significantly higher than its average volume of 22,478 shares. The fund has noted a 52-week low of $65.28 and a 52-week high of $88.74. The market capitalization stands at $382.53 million, with a price-to-earnings ratio of 17.61, and the stock carries a beta of 1.13. Furthermore, its 50-day simple moving average is $83.92, while its 200-day average is $79.39.

Dividend Announcement from First Trust Mid Cap Growth AlphaDEX Fund

In addition to these developments, the First Trust Mid Cap Growth AlphaDEX Fund recently announced a dividend payout. The dividend was paid on Tuesday, December 31st, to shareholders of record as of Friday, December 13th, with each shareholder receiving a dividend of $0.1415 per share. The ex-dividend date for this payout was also Friday, December 13th.

Profile of First Trust Mid Cap Growth AlphaDEX Fund

The First Trust Mid Cap Growth AlphaDEX Fund (FNY) is an exchange-traded fund (ETF) that is based on the NASDAQ AlphaDEX Mid Cap Growth index. This fund tracks a tiered equal-weighted index of mid-cap growth stocks, chosen according to the AlphaDex selection methodology from the S&P 400 Index. First Trust launched FNY on April 18, 2011, and the fund is actively managed by the company.

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