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

First Trust Utilities AlphaDEX Fund (NYSEARCA:FXU) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 252,632 shares, an increase of 266.3% from the March 15th total of 68,968 shares. Based on an average daily volume of 444,869 shares, the days-to-cover ratio is currently 0.6 days. Approximately 1.4% of the company’s stock are sold short.

First Trust Utilities AlphaDEX Fund Price Performance

Shares of FXU opened at $51.01 on Monday. The company’s fifty day moving average is $49.50 and its 200-day moving average is $47.21. First Trust Utilities AlphaDEX Fund has a 12 month low of $38.68 and a 12 month high of $51.62. The firm has a market cap of $910.53 million, a price-to-earnings ratio of 17.41 and a beta of 0.69.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. First Trust Advisors LP boosted its holdings in shares of First Trust Utilities AlphaDEX Fund by 5.3% during the 4th quarter. First Trust Advisors LP now owns 16,901,242 shares of the company’s stock worth $760,725,000 after buying an additional 849,177 shares during the period. Raymond James Financial Inc. boosted its holdings in shares of First Trust Utilities AlphaDEX Fund by 86.0% during the 2nd quarter. Raymond James Financial Inc. now owns 824,969 shares of the company’s stock worth $34,962,000 after buying an additional 381,462 shares during the period. Earned Wealth Advisors LLC bought a new stake in shares of First Trust Utilities AlphaDEX Fund during the 4th quarter worth $16,812,000. &PARTNERS bought a new stake in shares of First Trust Utilities AlphaDEX Fund during the 4th quarter worth $11,840,000. Finally, WCG Wealth Advisors LLC boosted its holdings in shares of First Trust Utilities AlphaDEX Fund by 172.5% during the 4th quarter. WCG Wealth Advisors LLC now owns 371,681 shares of the company’s stock worth $16,730,000 after buying an additional 235,296 shares during the period.

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.