Short Interest in First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Drops By 29.6%

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY - Get Free Report) was the recipient of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 49,800 shares, a decrease of 29.6% from the August 31st total of 70,700 shares. Based on an average daily volume of 15,700 shares, the days-to-cover ratio is presently 3.2 days.

Institutional Trading of First Trust Mid Cap Growth AlphaDEX Fund

Institutional investors and hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new stake in First Trust Mid Cap Growth AlphaDEX Fund in the 2nd quarter valued at $338,000. Cetera Investment Advisers boosted its position in shares of First Trust Mid Cap Growth AlphaDEX Fund by 2.3% in the second quarter. Cetera Investment Advisers now owns 73,195 shares of the company's stock worth $5,386,000 after buying an additional 1,639 shares during the period. Gateway Wealth Partners LLC acquired a new stake in shares of First Trust Mid Cap Growth AlphaDEX Fund in the second quarter valued at about $236,000. Zions Bancorporation N.A. purchased a new stake in shares of First Trust Mid Cap Growth AlphaDEX Fund during the 2nd quarter valued at about $132,000. Finally, LPL Financial LLC lifted its position in First Trust Mid Cap Growth AlphaDEX Fund by 8.4% during the 2nd quarter. LPL Financial LLC now owns 521,590 shares of the company's stock worth $38,379,000 after acquiring an additional 40,280 shares in the last quarter.

First Trust Mid Cap Growth AlphaDEX Fund Price Performance

FNY stock traded up $0.36 on Friday, hitting $79.43. 4,781 shares of the company were exchanged, compared to its average volume of 15,581. The stock has a market capitalization of $357.45 million, a price-to-earnings ratio of 17.61 and a beta of 1.13. First Trust Mid Cap Growth AlphaDEX Fund has a twelve month low of $55.33 and a twelve month high of $79.89. The business's fifty day moving average is $76.05 and its two-hundred day moving average is $74.33.

First Trust Mid Cap Growth AlphaDEX Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 26th will be paid a $0.3051 dividend. This is a positive change from First Trust Mid Cap Growth AlphaDEX Fund's previous quarterly dividend of $0.06. This represents a $1.22 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Thursday, September 26th.

About First Trust Mid Cap Growth AlphaDEX Fund

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

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