First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) Sees Significant Decrease in Short Interest

First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totaling 12,500 shares, a drop of 59.2% from the May 31st total of 30,602 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily volume of 70,027 shares, the days-to-cover ratio is currently 0.2 days.

First Trust Materials AlphaDEX Fund Stock Performance

NYSEARCA FXZ opened at $78.54 on Wednesday. First Trust Materials AlphaDEX Fund has a 52-week low of $55.67 and a 52-week high of $85.99. The company has a fifty day moving average of $81.15 and a 200-day moving average of $76.14. The company has a market capitalization of $377.00 million, a P/E ratio of 17.24 and a beta of 1.02.

Institutional Trading of First Trust Materials AlphaDEX Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sound Income Strategies LLC raised its holdings in First Trust Materials AlphaDEX Fund by 12.2% in the first quarter. Sound Income Strategies LLC now owns 4,614 shares of the company’s stock worth $357,000 after purchasing an additional 503 shares in the last quarter. Atlas Brown Inc. raised its holdings in First Trust Materials AlphaDEX Fund by 26.9% in the first quarter. Atlas Brown Inc. now owns 4,819 shares of the company’s stock worth $367,000 after buying an additional 1,021 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in First Trust Materials AlphaDEX Fund by 1.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 57,591 shares of the company’s stock valued at $3,733,000 after acquiring an additional 854 shares in the last quarter. Kesler Norman & Wride LLC lifted its stake in First Trust Materials AlphaDEX Fund by 1.9% during the 4th quarter. Kesler Norman & Wride LLC now owns 13,229 shares of the company’s stock valued at $858,000 after acquiring an additional 244 shares during the period. Finally, Harbour Investments Inc. boosted its holdings in shares of First Trust Materials AlphaDEX Fund by 14.3% during the 4th quarter. Harbour Investments Inc. now owns 28,820 shares of the company’s stock valued at $1,868,000 after acquiring an additional 3,601 shares during the last quarter.

About First Trust Materials AlphaDEX Fund

The First Trust Materials AlphaDEX Fund (FXZ) is an exchange-traded fund that is based on the StrataQuant Materials index. The fund tracks a tiered, equal-weighted index of large- and mid-cap basic materials firms in the US. Holdings are selected and weighted based on growth and value metrics. FXZ was launched on May 8, 2007 and is managed by First Trust.