First Trust Emerging Markets AlphaDEX Fund (NASDAQ:FEM) Shares Down 1.3% - Here's Why

First Trust Emerging Markets AlphaDEX Fund (NASDAQ:FEM - Get Free Report) dropped 1.3% during trading on Friday . The stock traded as low as $23.40 and last traded at $23.48. Approximately 30,562 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 65,821 shares. The stock had previously closed at $23.79.

First Trust Emerging Markets AlphaDEX Fund Trading Down 1.3%

The firm has a market cap of $397.99 million, a PE ratio of 8.45 and a beta of 0.85. The stock has a fifty day simple moving average of $22.69 and a two-hundred day simple moving average of $22.57.

First Trust Emerging Markets AlphaDEX Fund Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 27th were issued a $0.0393 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, March 27th.

Hedge Funds Weigh In On First Trust Emerging Markets AlphaDEX Fund

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rossby Financial LCC bought a new stake in shares of First Trust Emerging Markets AlphaDEX Fund in the first quarter worth about $38,000. Larson Financial Group LLC lifted its stake in shares of First Trust Emerging Markets AlphaDEX Fund by 33.1% in the 4th quarter. Larson Financial Group LLC now owns 1,943 shares of the company's stock valued at $43,000 after purchasing an additional 483 shares during the period. Synergy Investment Management LLC bought a new stake in shares of First Trust Emerging Markets AlphaDEX Fund during the fourth quarter valued at approximately $69,000. Tucker Asset Management LLC grew its stake in First Trust Emerging Markets AlphaDEX Fund by 23.3% in the fourth quarter. Tucker Asset Management LLC now owns 3,241 shares of the company's stock worth $71,000 after purchasing an additional 612 shares during the period. Finally, NBC Securities Inc. raised its holdings in First Trust Emerging Markets AlphaDEX Fund by 87,750.0% in the first quarter. NBC Securities Inc. now owns 5,271 shares of the company's stock worth $120,000 after purchasing an additional 5,265 shares in the last quarter.

First Trust Emerging Markets AlphaDEX Fund Company Profile

The First Trust Emerging Markets AlphaDEX Fund (FEM) is an exchange-traded fund that is based on the NASDAQ AlphaDEX EM index. The fund tracks an index of emerging markets companies selected using a quantitative methodology and weighted in tiers. FEM was launched on Apr 18, 2011 and is managed by First Trust.