First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Sees Significant Growth in Short Interest

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY - Get Free Report) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 54,300 shares, a growth of 7.1% from the September 30th total of 50,700 shares. Based on an average daily volume of 14,700 shares, the days-to-cover ratio is presently 3.7 days.

First Trust Mid Cap Growth AlphaDEX Fund Stock Up 0.7 %

FNY stock traded up $0.53 during midday trading on Friday, hitting $79.63. The company's stock had a trading volume of 10,621 shares, compared to its average volume of 15,542. The firm has a market capitalization of $354.35 million, a price-to-earnings ratio of 17.61 and a beta of 1.13. First Trust Mid Cap Growth AlphaDEX Fund has a 12 month low of $57.13 and a 12 month high of $82.18. The company has a 50 day moving average of $78.69 and a two-hundred day moving average of $75.35.

First Trust Mid Cap Growth AlphaDEX Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 26th were issued a dividend of $0.3051 per share. This represents a $1.22 annualized dividend and a dividend yield of 1.53%. This is a boost from First Trust Mid Cap Growth AlphaDEX Fund's previous quarterly dividend of $0.06. The ex-dividend date was Thursday, September 26th.

Institutional Trading of First Trust Mid Cap Growth AlphaDEX Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. LPL Financial LLC increased its stake in First Trust Mid Cap Growth AlphaDEX Fund by 8.4% in the second quarter. LPL Financial LLC now owns 521,590 shares of the company's stock worth $38,379,000 after purchasing an additional 40,280 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in First Trust Mid Cap Growth AlphaDEX Fund by 514.0% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 81,232 shares of the company's stock worth $5,977,000 after purchasing an additional 68,003 shares during the period. Cetera Investment Advisers increased its stake in 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 purchasing an additional 1,639 shares during the period. Raymond James & Associates increased its stake in First Trust Mid Cap Growth AlphaDEX Fund by 248.3% in the second quarter. Raymond James & Associates now owns 45,986 shares of the company's stock worth $3,384,000 after purchasing an additional 32,782 shares during the period. Finally, Cetera Advisors LLC purchased a new stake in First Trust Mid Cap Growth AlphaDEX Fund in the first quarter worth $3,334,000.

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.