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

First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 10,561 shares, a decline of 80.1% from the July 15th total of 53,134 shares. Based on an average daily trading volume, of 124,363 shares, the short-interest ratio is presently 0.1 days. Approximately 0.1% of the company’s shares are short sold.

First Trust Technology AlphaDEX Fund Stock Up 0.6%

FXL stock opened at $217.24 on Wednesday. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 21.63 and a beta of 1.24. The business has a fifty day simple moving average of $207.20 and a 200-day simple moving average of $186.73. First Trust Technology AlphaDEX Fund has a 52 week low of $151.62 and a 52 week high of $224.20.

Hedge Funds Weigh In On First Trust Technology AlphaDEX Fund

A number of large investors have recently modified their holdings of FXL. Royal Bank of Canada grew its holdings in shares of First Trust Technology AlphaDEX Fund by 7.8% during the 1st quarter. Royal Bank of Canada now owns 67,603 shares of the company’s stock worth $8,941,000 after purchasing an additional 4,878 shares during the period. Jane Street Group LLC raised its holdings in First Trust Technology AlphaDEX Fund by 20.4% in the first quarter. Jane Street Group LLC now owns 13,123 shares of the company’s stock valued at $1,736,000 after buying an additional 2,220 shares during the period. Cresset Asset Management LLC lifted its position in First Trust Technology AlphaDEX Fund by 3.1% during the second quarter. Cresset Asset Management LLC now owns 3,462 shares of the company’s stock valued at $545,000 after buying an additional 104 shares in the last quarter. NewEdge Advisors LLC lifted its position in First Trust Technology AlphaDEX Fund by 5.7% during the second quarter. NewEdge Advisors LLC now owns 25,212 shares of the company’s stock valued at $3,967,000 after buying an additional 1,369 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in First Trust Technology AlphaDEX Fund by 6.0% during the second quarter. Ameriprise Financial Inc. now owns 89,050 shares of the company’s stock worth $14,013,000 after buying an additional 5,022 shares during the period.

First Trust Technology AlphaDEX Fund Company Profile

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.