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

First Trust Health Care AlphaDEX Fund (NYSEARCA:FXH) was the target of a large increase in short interest in June. As of June 15th, there was short interest totaling 108,252 shares, an increase of 361.4% from the May 31st total of 23,461 shares. Based on an average trading volume of 35,539 shares, the days-to-cover ratio is currently 3.0 days. Approximately 1.4% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FXH. Northwestern Mutual Wealth Management Co. raised its position in First Trust Health Care AlphaDEX Fund by 14,737.6% during the fourth 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 grew its position in shares of First Trust Health Care AlphaDEX Fund by 1.2% in the fourth quarter. Morgan Stanley now owns 1,004,142 shares of the company’s stock valued at $114,293,000 after purchasing an additional 11,576 shares during the period. Bank of America Corp DE increased its stake in shares of First Trust Health Care AlphaDEX Fund by 21.1% during the third quarter. Bank of America Corp DE now owns 312,581 shares of the company’s stock worth $34,281,000 after purchasing an additional 54,400 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of First Trust Health Care AlphaDEX Fund by 1.8% during the 4th quarter. Wells Fargo & Company MN now owns 288,537 shares of the company’s stock worth $32,842,000 after purchasing an additional 5,066 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake 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 valued at $8,570,000 after buying an additional 12,680 shares in the last quarter.

First Trust Health Care AlphaDEX Fund Price Performance

FXH stock traded up $2.47 during mid-day trading on Friday, reaching $122.92. 14,307 shares of the company’s stock were exchanged, compared to its average volume of 26,051. First Trust Health Care AlphaDEX Fund has a 12-month low of $97.52 and a 12-month high of $122.92. The stock’s 50 day moving average is $114.94 and its 200 day moving average is $114.02. The company has a market cap of $952.63 million, a price-to-earnings ratio of 16.75 and a beta of 0.75.

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.