First Trust Developed Markets ex-US AlphaDEX Fund (NASDAQ:FDT) Sees Large Decrease in Short Interest

Key Points

• First Trust Developed Markets ex-US AlphaDEX Fund (NASDAQ:FDT) experienced a substantial drop in short interest, decreasing by 95.3% from August to September.
• The fund announced a quarterly dividend of $0.4076, representing an annualized dividend of $1.63 with a yield of 2.2%.
• Institutional investors have shown increased interest in FDT, with JPMorgan Chase & Co. raising its stake by 352.3% during the second quarter.

First Trust Developed Markets ex-US AlphaDEX Fund (NASDAQ:FDT - ) was the target of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 6,400 shares, a decrease of 95.3% from the August 31st total of 135,300 shares. Based on an average trading volume of 43,700 shares, the days-to-cover ratio is currently 0.1 days. Based on an average trading volume of 43,700 shares, the days-to-cover ratio is currently 0.1 days.

First Trust Developed Markets ex-US AlphaDEX Fund Price Performance

Shares of FDT traded up $0.49 during midday trading on Tuesday, hitting $75.37. The stock had a trading volume of 199,650 shares, compared to its average volume of 40,631. First Trust Developed Markets ex-US AlphaDEX Fund has a 1 year low of $51.33 and a 1 year high of $77.04. The firm has a market cap of $598.44 million, a PE ratio of 9.95 and a beta of 0.96. The stock's 50 day moving average is $73.12 and its 200 day moving average is $66.76.

First Trust Developed Markets ex-US AlphaDEX Fund Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Thursday, September 25th will be paid a $0.4076 dividend. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $1.63 annualized dividend and a dividend yield of 2.2%.

Institutional Investors Weigh In On First Trust Developed Markets ex-US AlphaDEX Fund

Several hedge funds and other institutional investors have recently made changes to their positions in FDT. JPMorgan Chase & Co. increased its stake in First Trust Developed Markets ex-US AlphaDEX Fund by 352.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 588 shares of the company's stock worth $40,000 after buying an additional 458 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in First Trust Developed Markets ex-US AlphaDEX Fund in the 2nd quarter worth about $64,000. Farther Finance Advisors LLC increased its stake in First Trust Developed Markets ex-US AlphaDEX Fund by 55.5% in the 1st quarter. Farther Finance Advisors LLC now owns 1,034 shares of the company's stock worth $60,000 after buying an additional 369 shares during the period. Rossby Financial LCC purchased a new position in First Trust Developed Markets ex-US AlphaDEX Fund in the 1st quarter worth about $86,000. Finally, Hilltop National Bank purchased a new position in First Trust Developed Markets ex-US AlphaDEX Fund in the 2nd quarter worth about $100,000.

About First Trust Developed Markets ex-US AlphaDEX Fund

The First Trust Developed Markets Ex-US AlphaDEX Fund (FDT) is an exchange-traded fund that is based on the NASDAQ AlphaDEX DM Ex-US index. The fund tracks an index of international, developed-market stocks, selected by growth and value factors and equal-weighted in tiers. FDT was launched on Apr 18, 2011 and is managed by First Trust.

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