First Trust Europe AlphaDEX Fund (NASDAQ:FEP) Stock Price Down 0.2% - Here's What Happened

Key Points

• The First Trust Europe AlphaDEX Fund (FEP) experienced a slight decline of 0.2% in stock price, with recent trading at $50.92, down from a previous close of $51.04.
• The fund recently increased its quarterly dividend to $0.9551 per share, representing an annual yield of 7.5%, despite a negative dividend payout ratio of -246.97%.
• Several hedge funds, including Citadel Advisors LLC and GAMMA Investing LLC, have increased their stakes in the fund during the past quarter, indicating renewed interest among institutional investors.

Shares of First Trust Europe AlphaDEX Fund (NASDAQ:FEP - Get Free Report) were down 0.2% on Tuesday . The stock traded as low as $50.76 and last traded at $50.92. Approximately 13,423 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 35,258 shares. The stock had previously closed at $51.04.

First Trust Europe AlphaDEX Fund Stock Performance

The firm has a market capitalization of $312.46 million, a P/E ratio of -76.36 and a beta of 1.09. The stock has a 50-day moving average of $49.44 and a 200 day moving average of $45.86.

First Trust Europe AlphaDEX Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, June 26th were given a $0.9551 dividend. The ex-dividend date was Thursday, June 26th. This represents a $3.82 annualized dividend and a dividend yield of 7.6%. This is an increase from First Trust Europe AlphaDEX Fund's previous quarterly dividend of $0.11. First Trust Europe AlphaDEX Fund's dividend payout ratio is -246.97%.

Institutional Trading of First Trust Europe AlphaDEX Fund

Several hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC raised 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. raised its stake in First Trust Europe AlphaDEX Fund by 6.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 322,328 shares of the company's stock worth $15,407,000 after buying an additional 18,936 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in First Trust Europe AlphaDEX Fund by 22.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 266,756 shares of the company's stock worth $12,764,000 after buying an additional 49,790 shares during the period. Cetera Investment Advisers raised its stake in First Trust Europe AlphaDEX Fund by 20.9% during the 2nd quarter. Cetera Investment Advisers now owns 173,440 shares of the company's stock worth $8,290,000 after buying an additional 30,029 shares during the period. Finally, Assetmark Inc. raised its stake in shares of First Trust Europe AlphaDEX Fund by 17.5% in the 2nd quarter. Assetmark Inc. now owns 112,037 shares of the company's stock valued at $5,355,000 after purchasing an additional 16,673 shares during the period.

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.