First Trust Utilities AlphaDEX Fund (NYSEARCA:FXU) Sees Large Decrease in Short Interest

First Trust Utilities AlphaDEX Fund (NYSEARCA:FXU) was the target of a large decline in short interest in the month of August. As of August 14th, there was short interest totaling 30,864 shares, a decline of 57.7% from the July 30th total of 72,946 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 307,427 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On First Trust Utilities AlphaDEX Fund

Large investors have recently modified their holdings of the business. Royal Bank of Canada increased its position in shares of First Trust Utilities AlphaDEX Fund by 919.6% during the first quarter. Royal Bank of Canada now owns 146,985 shares of the company’s stock worth $6,028,000 after buying an additional 132,569 shares during the period. Jane Street Group LLC acquired a new stake in First Trust Utilities AlphaDEX Fund in the first quarter valued at approximately $832,000. JPMorgan Chase & Co. increased its holdings in shares of First Trust Utilities AlphaDEX Fund by 8.3% during the second quarter. JPMorgan Chase & Co. now owns 3,667 shares of the company’s stock valued at $155,000 after acquiring an additional 280 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of First Trust Utilities AlphaDEX Fund during the second quarter worth about $609,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of First Trust Utilities AlphaDEX Fund in the 2nd quarter worth about $840,000.

First Trust Utilities AlphaDEX Fund Stock Performance

Shares of NYSEARCA:FXU opened at $47.34 on Monday. The firm has a 50 day moving average of $48.99 and a 200-day moving average of $49.11. The stock has a market capitalization of $811.88 million, a PE ratio of 17.41 and a beta of 0.61. First Trust Utilities AlphaDEX Fund has a 12 month low of $43.19 and a 12 month high of $51.62.

About First Trust Utilities AlphaDEX Fund

First Trust Utilities 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 Utilities 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.