Short Interest in First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) Decreases By 59.4%

First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) was the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 18,017 shares, a drop of 59.4% from the July 15th total of 44,358 shares. Based on an average trading volume of 46,966 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.4% of the company’s shares are sold short.

First Trust Materials AlphaDEX Fund Price Performance

FXZ stock traded up $0.89 during midday trading on Friday, hitting $83.77. The stock had a trading volume of 22,243 shares, compared to its average volume of 53,720. The company’s 50-day moving average price is $79.84 and its 200 day moving average price is $78.54. The firm has a market cap of $402.10 million, a PE ratio of 17.24 and a beta of 1.04. First Trust Materials AlphaDEX Fund has a 12-month low of $57.87 and a 12-month high of $85.99.

Institutional Investors Weigh In On First Trust Materials AlphaDEX Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its stake in First Trust Materials AlphaDEX Fund by 277.6% in the first quarter. Bank of America Corp DE now owns 385,160 shares of the company’s stock valued at $29,353,000 after purchasing an additional 283,145 shares during the last quarter. Summit Financial LLC boosted its stake in 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 worth $4,086,000 after buying an additional 56,132 shares during the last quarter. D.A. Davidson & CO. acquired a new stake in First Trust Materials AlphaDEX Fund in the 1st quarter worth about $4,120,000. BNP Paribas Financial Markets purchased a new stake in First Trust Materials AlphaDEX Fund in the 3rd quarter valued at about $3,080,000. Finally, Ameriprise Financial Inc. grew its holdings in 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.

First Trust Materials AlphaDEX Fund Company Profile

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.