First Trust Europe AlphaDEX Fund (NASDAQ:FEP) Shares Down 0.6% - Time to Sell?

Key Points

• First Trust Europe AlphaDEX Fund (NASDAQ:FEP) fell 0.6% on Thursday, trading as low as $57.55 with volume well below average at 12,344 shares.
• The ETF recently announced a much larger quarterly dividend of $0.7986 per share, up from $0.08 previously, which annualizes to a 5.5% yield.
• Despite the price dip, the fund’s 50-day moving average is $58.30 and its 200-day moving average is $57.05, while hedge funds have recently increased or opened positions in the stock.

Shares of First Trust Europe AlphaDEX Fund (NASDAQ:FEP - ) dropped 0.6% on Thursday . The stock traded as low as $57.55 and last traded at $57.75. Approximately 12,344 shares were traded during trading, a decline of 64% from the average session volume of 33,941 shares. The stock had previously closed at $58.09.

First Trust Europe AlphaDEX Fund Price Performance

The business has a fifty day moving average of $58.30 and a 200-day moving average of $57.05. The stock has a market capitalization of $513.98 million, a price-to-earnings ratio of -87.50 and a beta of 0.90.

First Trust Europe AlphaDEX Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were given a dividend of $0.7986 per share. This is a positive change from First Trust Europe AlphaDEX Fund's previous quarterly dividend of $0.08. The ex-dividend date was Thursday, June 25th. This represents a $3.19 annualized dividend and a dividend yield of 5.5%. First Trust Europe AlphaDEX Fund's payout ratio is -240.91%.

Hedge Funds Weigh In On First Trust Europe AlphaDEX Fund

Several hedge funds have recently made changes to their positions in FEP. Smartleaf Asset Management LLC lifted its stake in First Trust Europe AlphaDEX Fund by 305.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 474 shares of the company's stock valued at $26,000 after purchasing an additional 357 shares during the last quarter. Western Wealth Management LLC acquired a new position in First Trust Europe AlphaDEX Fund in the first quarter worth approximately $26,000. NewEdge Advisors LLC bought a new position in shares of First Trust Europe AlphaDEX Fund in the second quarter valued at $51,000. Flagship Harbor Advisors LLC bought a new position in shares of First Trust Europe AlphaDEX Fund in the fourth quarter valued at $61,000. Finally, Jones Financial Companies Lllp lifted its position in shares of First Trust Europe AlphaDEX Fund by 199.0% during the 1st 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.

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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