First Trust Health Care AlphaDEX Fund (NYSEARCA:FXH) Sees Large Decline in Short Interest

First Trust Health Care AlphaDEX Fund (NYSEARCA:FXH) was the target of a large drop in short interest in April. As of April 30th, there was short interest totaling 14,565 shares, a drop of 35.3% from the April 15th total of 22,515 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily volume of 19,072 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its holdings in First Trust Health Care AlphaDEX Fund by 14,737.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,225,142 shares of the company’s stock worth $139,446,000 after acquiring an additional 1,216,885 shares during the period. Morgan Stanley raised its holdings in First Trust Health Care AlphaDEX Fund by 1.2% in the 4th quarter. Morgan Stanley now owns 1,004,142 shares of the company’s stock worth $114,293,000 after acquiring an additional 11,576 shares during the period. Bank of America Corp DE raised its holdings in First Trust Health Care AlphaDEX Fund by 21.1% in the 3rd quarter. Bank of America Corp DE now owns 312,581 shares of the company’s stock worth $34,281,000 after acquiring an additional 54,400 shares during the period. Wells Fargo & Company MN raised its holdings in First Trust Health Care AlphaDEX Fund by 1.8% in the 4th quarter. Wells Fargo & Company MN now owns 288,537 shares of the company’s stock worth $32,842,000 after acquiring an additional 5,066 shares during the period. Finally, Royal Bank of Canada raised its holdings in First Trust Health Care AlphaDEX Fund by 19.4% in the 1st quarter. Royal Bank of Canada now owns 78,075 shares of the company’s stock worth $8,570,000 after acquiring an additional 12,680 shares during the period.

First Trust Health Care AlphaDEX Fund Stock Performance

Shares of First Trust Health Care AlphaDEX Fund stock traded up $0.72 during midday trading on Monday, reaching $113.33. 29,609 shares of the company’s stock traded hands, compared to its average volume of 24,131. The company has a market cap of $878.31 million, a price-to-earnings ratio of 16.75 and a beta of 0.75. The company’s 50 day simple moving average is $111.09 and its 200 day simple moving average is $113.48. First Trust Health Care AlphaDEX Fund has a 52 week low of $97.52 and a 52 week high of $120.34.

About First Trust Health Care AlphaDEX Fund

The First Trust Health Care AlphaDEX Fund is an exchange-traded fund. The investment objective of the Fund is to seek investment results that correspond generally to the price and yield, before fees and expenses, of an equity index called the StrataQuant Health Care Index. The StrataQuant Health Care Index is an index developed, maintained and sponsored by the NYSE Group, Inc or its affiliates (NYSE), which employs the AlphaDEX stock selection methodology to select stocks from the Russell 1000 Index.