First Trust Europe AlphaDEX Fund (NASDAQ:FEP) Reaches New 52-Week High - What's Next?

Key Points

• Shares of First Trust Europe AlphaDEX Fund (NASDAQ:FEP) hit a new 52-week high of $59.45 (last $59.40) on Wednesday, with a market cap of about $526.7M and 50-/200-day moving averages of $56.17 and $54.58 respectively.
• The fund recently paid a quarterly dividend of $0.0762 per share (annualized $0.30, ~0.5% yield), but its dividend payout ratio is an unusually negative -265.15%, reflecting distributable losses.
• Institutional activity has risen—several hedge funds boosted positions, most notably Jane Street Group, which increased its stake to 39,786 shares (a 165.4% increase), while other firms like Jones Financial and JPMorgan also added exposure.

Shares of First Trust Europe AlphaDEX Fund (NASDAQ:FEP - ) hit a new 52-week high on Wednesday . The stock traded as high as $59.45 and last traded at $59.40, with a volume of 5686 shares trading hands. The stock had previously closed at $58.33.

First Trust Europe AlphaDEX Fund Price Performance

The stock has a market cap of $526.66 million, a PE ratio of -90.17 and a beta of 0.90. The business has a 50 day moving average price of $56.17 and a two-hundred day moving average price of $54.58.

First Trust Europe AlphaDEX Fund Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were given a dividend of $0.0762 per share. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $0.30 annualized dividend and a yield of 0.5%. First Trust Europe AlphaDEX Fund's dividend payout ratio is presently -265.15%.

Hedge Funds Weigh In On First Trust Europe AlphaDEX Fund

A number of hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp raised its stake in shares of First Trust Europe AlphaDEX Fund by 199.0% during the first quarter. Jones Financial Companies Lllp now owns 1,818 shares of the company's stock valued at $74,000 after acquiring an additional 1,210 shares during the last quarter. Jane Street Group LLC grew its stake in shares of First Trust Europe AlphaDEX Fund by 165.4% in the first quarter. Jane Street Group LLC now owns 39,786 shares of the company's stock worth $1,624,000 after purchasing an additional 24,794 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in First Trust Europe AlphaDEX Fund by 48.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,930 shares of the company's stock valued at $92,000 after purchasing an additional 630 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in First Trust Europe AlphaDEX Fund by 1,296.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,853 shares of the company's stock valued at $184,000 after purchasing an additional 3,577 shares during the last quarter. Finally, NewEdge Advisors LLC bought a new position in First Trust Europe AlphaDEX Fund during the 2nd quarter valued at approximately $51,000.

First Trust Europe AlphaDEX Fund Company Profile

The First Trust Europe AlphaDEX Fund (FEP) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Europe index. The fund tracks a tiered equal-weighted index of 200 companies selected from the S&P Europe BMI based on the S&P's AlphaDex selection methodology. FEP was launched on Apr 18, 2011 and is managed by First Trust.

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