First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) Short Interest Update

First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) was the target of a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 11,177 shares, a drop of 38.0% from the July 30th total of 18,017 shares. Based on an average trading volume of 46,005 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.2% of the shares of the stock are short sold.

First Trust Materials AlphaDEX Fund Price Performance

Shares of FXZ traded up $1.84 during midday trading on Wednesday, reaching $86.26. The stock had a trading volume of 7,489 shares, compared to its average volume of 51,375. First Trust Materials AlphaDEX Fund has a 52 week low of $57.87 and a 52 week high of $88.25. The firm’s 50 day moving average price is $80.61 and its 200-day moving average price is $79.45. The company has a market capitalization of $414.07 million, a P/E ratio of 17.24 and a beta of 1.04.

Institutional Trading of First Trust Materials AlphaDEX Fund

Several large investors have recently modified their holdings of the company. Bank of America Corp DE increased its stake in First Trust Materials AlphaDEX Fund by 277.6% during the first quarter. Bank of America Corp DE now owns 385,160 shares of the company’s stock valued at $29,353,000 after acquiring an additional 283,145 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of First Trust Materials AlphaDEX Fund by 15.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 124,960 shares of the company’s stock valued at $7,662,000 after buying an additional 16,382 shares during the period. Royal Bank of Canada boosted its holdings in shares of First Trust Materials AlphaDEX Fund by 31.2% in the first quarter. Royal Bank of Canada now owns 66,097 shares of the company’s stock valued at $3,665,000 after buying an additional 15,706 shares during the period. Summit Financial LLC grew its position in shares of First Trust Materials AlphaDEX Fund by 813.9% in the 4th quarter. Summit Financial LLC now owns 63,029 shares of the company’s stock valued at $4,086,000 after acquiring an additional 56,132 shares during the period. Finally, UBS Group AG boosted its holdings in shares of First Trust Materials AlphaDEX Fund by 5.9% during the third quarter. UBS Group AG now owns 62,571 shares of the company’s stock worth $3,854,000 after acquiring an additional 3,466 shares during the period.

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.