First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Sees 7.1% Increase in Short Interest for October

The First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY - Get Free Report) experienced a notable rise in short interest during October. By October 15th, total short interest reached 54,300 shares, marking a 7.1% increase from the 50,700 shares registered on September 30th. With an average trading volume of 14,700 shares, the current short-interest ratio stands at 3.7 days.

Institutional Inflows and Outflows

In recent months, several hedge funds have adjusted their holdings in the First Trust Mid Cap Growth AlphaDEX Fund. Zions Bancorporation N.A. acquired a new position in the fund during the second quarter, valued at approximately $132,000. Additionally, Gateway Wealth Partners LLC purchased a new stake in the fund worth around $236,000. Sanctuary Advisors LLC also joined in, buying shares valued at roughly $338,000 in the second quarter. Jaffetilchin Investment Partners LLC bought into the fund in the first quarter for about $348,000. Finally, Concurrent Investment Advisors LLC made a substantial investment of $417,000 in the second quarter.

Performance of First Trust Mid Cap Growth AlphaDEX Fund Stock

On Friday, shares of NASDAQ:FNY rose by $0.75, bringing the price to $79.85. A total of 1,110 shares changed hands during trading, which is lower than the average trading volume of 15,497 shares. The fund's stock has seen a fifty-two week low of $57.13 and a high of $82.18. The 50-day simple moving average is at $78.63, while the 200-day simple moving average stands at $75.32. Currently, the market capitalization of the company is $355.33 million, with a price-to-earnings ratio of 17.61 and a beta value of 1.13.

Dividend Increase Announced by First Trust Mid Cap Growth AlphaDEX Fund

Recently, the fund declared a quarterly dividend which was paid on Monday, September 30th. Shareholders recorded as of Thursday, September 26th, received a dividend of $0.3051 per share, translating to an annualized dividend of $1.22 and a dividend yield of 1.53%. This amount represents an increase from the prior quarterly dividend of $0.06, with the ex-dividend date also set for Thursday, September 26th.

Overview of First Trust Mid Cap Growth AlphaDEX Fund

The First Trust Mid Cap Growth AlphaDEX Fund (FNY) is an exchange-traded fund tracking the NASDAQ AlphaDEX Mid Cap Growth index. This fund applies a unique selection methodology to opt for mid-cap growth stocks from the S&P 400 Index, ensuring a tiered equal-weighted strategy. Launched on April 18, 2011, it is managed by First Trust.

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