First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) Sees Large Increase in Short Interest

First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) was the recipient of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 23,412 shares, a growth of 87.3% from the June 15th total of 12,500 shares. Based on an average daily trading volume, of 50,062 shares, the short-interest ratio is currently 0.5 days. Approximately 0.5% of the company’s stock are short sold.

Institutional Trading of First Trust Materials AlphaDEX Fund

A number of institutional investors and hedge funds have recently made changes to their positions in FXZ. Western Wealth Management LLC bought a new stake in First Trust Materials AlphaDEX Fund during the first quarter worth approximately $49,000. NBC Securities Inc. lifted its stake in shares of First Trust Materials AlphaDEX Fund by 25.7% in the fourth quarter. NBC Securities Inc. now owns 837 shares of the company’s stock worth $54,000 after buying an additional 171 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of First Trust Materials AlphaDEX Fund by 25.6% during the 1st quarter. Parallel Advisors LLC now owns 1,225 shares of the company’s stock worth $93,000 after buying an additional 250 shares during the period. NewEdge Advisors LLC grew its stake in First Trust Materials AlphaDEX Fund by 75.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,509 shares of the company’s stock valued at $115,000 after buying an additional 650 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in First Trust Materials AlphaDEX Fund in the 1st quarter valued at $205,000.

First Trust Materials AlphaDEX Fund Price Performance

FXZ traded down $0.27 during midday trading on Friday, hitting $75.58. 24,722 shares of the company’s stock traded hands, compared to its average volume of 54,973. The company has a market cap of $366.56 million, a PE ratio of 17.24 and a beta of 1.03. The stock’s fifty day simple moving average is $80.42 and its 200-day simple moving average is $77.17. First Trust Materials AlphaDEX Fund has a one year low of $55.67 and a one year high of $85.99.

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.