First Trust Germany AlphaDEX Fund (NASDAQ:FGM) Sees Large Growth in Short Interest

Key Points

• Short interest in FGM surged 159.9% in June, rising to 33,496 shares by June 30 from 12,889 shares two weeks earlier. That equals about 2.2% of shares shorted and an 8.6-day short-interest ratio.
• Institutional investors have been active, with several firms boosting their stakes, including First Trust Advisors LP, which increased its holding by 52.6% in the first quarter.
• The ETF is trading near the middle of its range, recently opening at $62.43 versus a 52-week range of $52.93 to $71.12. It also pays a quarterly dividend, with an annualized yield of about 5.4%.

First Trust Germany AlphaDEX Fund (NASDAQ:FGM - ) was the recipient of a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 33,496 shares, a growth of 159.9% from the June 15th total of 12,889 shares. Based on an average trading volume of 3,876 shares, the short-interest ratio is presently 8.6 days. Approximately 2.2% of the shares of the stock are short sold.

Hedge Funds Weigh In On First Trust Germany AlphaDEX Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP grew its stake in First Trust Germany AlphaDEX Fund by 52.6% during the first quarter. First Trust Advisors LP now owns 925,098 shares of the company's stock worth $55,522,000 after buying an additional 318,845 shares during the last quarter. Arlington Capital Management Inc. increased its holdings in shares of First Trust Germany AlphaDEX Fund by 64.0% during the fourth quarter. Arlington Capital Management Inc. now owns 84,859 shares of the company's stock worth $5,292,000 after buying an additional 33,118 shares in the last quarter. Kestra Advisory Services LLC raised its stake in shares of First Trust Germany AlphaDEX Fund by 0.5% in the fourth quarter. Kestra Advisory Services LLC now owns 54,475 shares of the company's stock valued at $3,397,000 after acquiring an additional 269 shares during the last quarter. Jane Street Group LLC raised its stake in shares of First Trust Germany AlphaDEX Fund by 238.1% in the first quarter. Jane Street Group LLC now owns 52,451 shares of the company's stock valued at $2,408,000 after acquiring an additional 36,938 shares during the last quarter. Finally, &PARTNERS acquired a new position in shares of First Trust Germany AlphaDEX Fund in the 4th quarter worth approximately $3,077,000.

First Trust Germany AlphaDEX Fund Stock Performance

Shares of NASDAQ FGM opened at $62.43 on Tuesday. First Trust Germany AlphaDEX Fund has a 52-week low of $52.93 and a 52-week high of $71.12. The business has a fifty day moving average of $64.57 and a two-hundred day moving average of $64.59. The stock has a market cap of $96.77 million, a PE ratio of 13.97 and a beta of 0.95.

First Trust Germany AlphaDEX Fund Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were given a dividend of $0.8422 per share. The ex-dividend date was Thursday, June 25th. This represents a $3.37 dividend on an annualized basis and a dividend yield of 5.4%.

About First Trust Germany AlphaDEX Fund

The First Trust Germany AlphaDEX Fund (FGM) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Germany index. The fund tracks a tiered equal-weighted index of 40 companies selected from the S&P Germany BMI based on the S&P's AlphaDex selection methodology. FGM was launched on Feb 14, 2012 and is managed by First Trust.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.