First Trust Europe AlphaDEX Fund (NASDAQ:FEP) Trading 0.4% Higher - Still a Buy?

First Trust Europe AlphaDEX Fund (NASDAQ:FEP - Get Free Report)'s share price was up 0.4% during trading on Thursday . The company traded as high as $47.91 and last traded at $47.85. Approximately 20,646 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 25,904 shares. The stock had previously closed at $47.65.

First Trust Europe AlphaDEX Fund Price Performance

The stock has a 50 day moving average price of $46.00 and a 200-day moving average price of $41.43. The stock has a market capitalization of $289.46 million, a price-to-earnings ratio of -72.49 and a beta of 1.09.

First Trust Europe AlphaDEX Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 26th were issued a $0.9551 dividend. This represents a $3.82 annualized dividend and a yield of 7.98%. This is a positive change from First Trust Europe AlphaDEX Fund's previous quarterly dividend of $0.11. The ex-dividend date was Thursday, June 26th. First Trust Europe AlphaDEX Fund's payout ratio is presently -246.97%.

Hedge Funds Weigh In On First Trust Europe AlphaDEX Fund

Several large investors have recently made changes to their positions in the stock. LPL Financial LLC increased its stake in First Trust Europe AlphaDEX Fund by 43.5% during the 1st quarter. LPL Financial LLC now owns 350,310 shares of the company's stock worth $14,303,000 after buying an additional 106,165 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of First Trust Europe AlphaDEX Fund by 1.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 308,361 shares of the company's stock worth $11,044,000 after acquiring an additional 4,872 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of First Trust Europe AlphaDEX Fund in the 1st quarter worth $8,859,000. Cetera Investment Advisers lifted its stake in shares of First Trust Europe AlphaDEX Fund by 28.0% in the first quarter. Cetera Investment Advisers now owns 143,411 shares of the company's stock valued at $5,856,000 after purchasing an additional 31,373 shares during the period. Finally, Assetmark Inc. raised its position in First Trust Europe AlphaDEX Fund by 18.3% during the fourth quarter. Assetmark Inc. now owns 107,122 shares of the company's stock worth $3,837,000 after acquiring an additional 16,534 shares during the last quarter.

About First Trust Europe AlphaDEX Fund

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.