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

Key Points

• Short interest plunged 66.9% to 122,149 shares as of Feb 27, equal to about 1.1% of shares short and a days-to-cover ratio of 0.9.
• The fund raised its quarterly dividend to $1.109 (paid Dec 31), implying an annualized distribution of $4.44 and a yield of 4.9%.
• Shares trade around $89.66 with a 52-week range of $51.33–$97.51, a market cap of roughly $958.5M and a P/E near 9.95.

First Trust Developed Markets ex-US AlphaDEX Fund (NASDAQ:FDT - ) saw a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 122,149 shares, a decrease of 66.9% from the February 12th total of 368,841 shares. Based on an average trading volume of 143,032 shares, the days-to-cover ratio is currently 0.9 days. Currently, 1.1% of the shares of the company are short sold. Currently, 1.1% of the shares of the company are short sold. Based on an average trading volume of 143,032 shares, the days-to-cover ratio is currently 0.9 days.

First Trust Developed Markets ex-US AlphaDEX Fund Stock Performance

Shares of NASDAQ:FDT opened at $89.66 on Wednesday. The stock's 50-day simple moving average is $88.79 and its two-hundred day simple moving average is $80.82. First Trust Developed Markets ex-US AlphaDEX Fund has a 52-week low of $51.33 and a 52-week high of $97.51. The stock has a market capitalization of $958.47 million, a price-to-earnings ratio of 9.95 and a beta of 0.87.

First Trust Developed Markets ex-US AlphaDEX Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th were issued a dividend of $1.109 per share. This is an increase from First Trust Developed Markets ex-US AlphaDEX Fund's previous quarterly dividend of $0.41. This represents a $4.44 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Friday, December 12th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Cullen Frost Bankers Inc. purchased a new stake in shares of First Trust Developed Markets ex-US AlphaDEX Fund in the 3rd quarter worth $26,000. JPMorgan Chase & Co. raised its holdings 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 purchasing an additional 458 shares during the period. Smartleaf Asset Management LLC raised its holdings in First Trust Developed Markets ex-US AlphaDEX Fund by 223.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 591 shares of the company's stock worth $47,000 after purchasing an additional 408 shares during the period. Topsail Wealth Management LLC purchased a new position in First Trust Developed Markets ex-US AlphaDEX Fund during the third quarter valued at $54,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in First Trust Developed Markets ex-US AlphaDEX Fund during the second quarter valued at $64,000.

First Trust Developed Markets ex-US AlphaDEX Fund Company Profile

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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