First Trust Europe AlphaDEX Fund (NASDAQ:FEP) Short Interest Up 272.8% in May

First Trust Europe AlphaDEX Fund (NASDAQ:FEP - Get Free Report) was the target of a significant growth in short interest in May. As of May 31st, there was short interest totalling 60,400 shares, a growth of 272.8% from the May 15th total of 16,200 shares. Based on an average daily volume of 43,500 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.0% of the shares of the stock are sold short.

Hedge Funds Weigh In On First Trust Europe AlphaDEX Fund

A number of institutional investors and hedge funds have recently modified their holdings of the company. ORG Partners LLC bought a new position in First Trust Europe AlphaDEX Fund in the 1st quarter worth $33,000. Rossby Financial LCC bought a new position in shares of First Trust Europe AlphaDEX Fund in the 1st quarter valued at about $41,000. Jones Financial Companies Lllp increased 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 purchasing an additional 1,210 shares during the last quarter. Synergy Investment Management LLC purchased a new stake in shares of First Trust Europe AlphaDEX Fund in the fourth quarter valued at $86,000. Finally, Tucker Asset Management LLC boosted its position in shares of First Trust Europe AlphaDEX Fund by 63.3% during the fourth quarter. Tucker Asset Management LLC now owns 2,467 shares of the company's stock valued at $88,000 after buying an additional 956 shares during the period.

First Trust Europe AlphaDEX Fund Trading Up 0.9%

FEP stock traded up $0.42 during midday trading on Thursday, hitting $47.58. The company had a trading volume of 16,010 shares, compared to its average volume of 25,812. The stock has a market cap of $261.69 million, a price-to-earnings ratio of -72.09 and a beta of 1.09. First Trust Europe AlphaDEX Fund has a 52 week low of $33.02 and a 52 week high of $47.66. The stock's 50 day moving average price is $43.51 and its 200 day moving average price is $40.14.

First Trust Europe 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 given a $0.1115 dividend. This represents a $0.45 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend was Thursday, March 27th. First Trust Europe AlphaDEX Fund's dividend payout ratio is presently -240.91%.

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.