First Trust China AlphaDEX Fund (NASDAQ:FCA) Shares Up 0.9% - Here's Why

Key Points

• First Trust China AlphaDEX Fund (NASDAQ:FCA) shares rose by 0.9% to $29.33, with 6,109 shares traded, a drop of 41% from the average volume.
• The fund recently declared a quarterly dividend of $0.2567, equating to an annual yield of 3.5%.
• Several institutional investors, including StoneX Group and Jane Street Group, have recently increased their stakes in the fund, signaling growing interest from hedge funds.

Shares of First Trust China AlphaDEX Fund (NASDAQ:FCA - ) shot up 0.9% during mid-day trading on Thursday . The company traded as high as $29.46 and last traded at $29.33. 6,109 shares were traded during mid-day trading, a decline of 41% from the average session volume of 10,376 shares. The stock had previously closed at $29.06.

First Trust China AlphaDEX Fund Price Performance

The company has a market capitalization of $63.06 million, a P/E ratio of 9.26 and a beta of 0.57. The stock's 50 day moving average is $28.23 and its 200-day moving average is $24.56.

First Trust China AlphaDEX Fund Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Thursday, September 25th were paid a $0.2567 dividend. This represents a $1.03 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Thursday, September 25th.

Institutional Investors Weigh In On First Trust China AlphaDEX Fund

Hedge funds and other institutional investors have recently bought and sold shares of the business. StoneX Group Inc. purchased a new stake in First Trust China AlphaDEX Fund in the second quarter worth about $204,000. Flow Traders U.S. LLC purchased a new stake in First Trust China AlphaDEX Fund in the first quarter worth about $813,000. OLD Mission Capital LLC purchased a new stake in First Trust China AlphaDEX Fund in the first quarter worth about $2,673,000. Jane Street Group LLC purchased a new stake in First Trust China AlphaDEX Fund in the first quarter worth about $3,046,000. Finally, First Trust Advisors LP grew its holdings in First Trust China AlphaDEX Fund by 6.7% in the second quarter. First Trust Advisors LP now owns 1,089,404 shares of the company's stock worth $26,276,000 after purchasing an additional 68,396 shares during the period.

First Trust China AlphaDEX Fund Company Profile

The First Trust China AlphaDEX Fund (FCA) is an exchange-traded fund that is based on the NASDAQ AlphaDEX China index. The fund tracks the Defined China Index. The alpha-seeking index employs a quantitative methodology to select stocks based on both value and growth factors. FCA was launched on Apr 18, 2011 and is managed by First Trust.

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