First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Sees Significant Growth in Short Interest

First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) was the target of a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 20,223 shares, an increase of 166.4% from the April 30th total of 7,590 shares. Based on an average daily volume of 15,605 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.3% of the company’s stock are short sold.

Institutional Investors Weigh In On First Trust Technology AlphaDEX Fund

A number of institutional investors and hedge funds have recently bought and sold shares of FXL. Huntington National Bank bought a new position in First Trust Technology AlphaDEX Fund in the 3rd quarter valued at $36,000. Optiver Holding B.V. bought a new position in First Trust Technology AlphaDEX Fund in the 3rd quarter valued at $39,000. Hilton Head Capital Partners LLC bought a new position in First Trust Technology AlphaDEX Fund in the 4th quarter valued at $42,000. Flagship Harbor Advisors LLC bought a new position in First Trust Technology AlphaDEX Fund in the 4th quarter valued at $46,000. Finally, Bessemer Group Inc. grew its stake in First Trust Technology AlphaDEX Fund by 66.8% in the 1st quarter. Bessemer Group Inc. now owns 387 shares of the company’s stock valued at $62,000 after purchasing an additional 155 shares during the period.

First Trust Technology AlphaDEX Fund Trading Up 2.4%

NYSEARCA FXL traded up $5.03 during mid-day trading on Friday, hitting $211.63. The company’s stock had a trading volume of 9,313 shares, compared to its average volume of 16,248. The company’s 50 day simple moving average is $180.89 and its 200 day simple moving average is $172.70. First Trust Technology AlphaDEX Fund has a twelve month low of $144.59 and a twelve month high of $212.41. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 21.63 and a beta of 1.22.

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.