First Trust Japan AlphaDEX Fund (NASDAQ:FJP) Sees Significant Decrease in Short Interest

Key Points

• The First Trust Japan AlphaDEX Fund (NASDAQ:FJP) experienced a significant decline in short interest, dropping by 55.3% in August, with current short interest at 6,700 shares or 0.2% of total shares.
• Institutional investors are increasingly investing in the fund, with notable increases from firms like Harbour Investments Inc. and FSB Premier Wealth Management Inc., boosting their positions by 5.9% and 8.8% respectively.
• The fund recently raised its quarterly dividend to $0.4626 per share from the previous $0.37, resulting in an annualized dividend of $1.85 and a yield of 2.8%.

First Trust Japan AlphaDEX Fund (NASDAQ:FJP - Get Free Report) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 6,700 shares, a decrease of 55.3% from the August 15th total of 15,000 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 9,000 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily volume of 9,000 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.2% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE acquired a new position in shares of First Trust Japan AlphaDEX Fund in the 4th quarter valued at about $700,000. Cetera Investment Advisers raised its holdings in shares of First Trust Japan AlphaDEX Fund by 9.1% in the 4th quarter. Cetera Investment Advisers now owns 56,960 shares of the company's stock worth $2,944,000 after purchasing an additional 4,754 shares in the last quarter. Snowden Capital Advisors LLC raised its holdings in shares of First Trust Japan AlphaDEX Fund by 1.9% in the 4th quarter. Snowden Capital Advisors LLC now owns 16,167 shares of the company's stock worth $836,000 after purchasing an additional 299 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of First Trust Japan AlphaDEX Fund by 1,785.8% in the 1st quarter. GAMMA Investing LLC now owns 5,318 shares of the company's stock worth $292,000 after purchasing an additional 5,036 shares in the last quarter. Finally, RFG Advisory LLC purchased a new position in shares of First Trust Japan AlphaDEX Fund in the first quarter worth approximately $200,000.

First Trust Japan AlphaDEX Fund Stock Performance

NASDAQ FJP traded down $0.06 during mid-day trading on Thursday, reaching $66.50. 14,652 shares of the stock were exchanged, compared to its average volume of 16,091. First Trust Japan AlphaDEX Fund has a 1-year low of $43.52 and a 1-year high of $68.09. The business's fifty day simple moving average is $63.09 and its 200 day simple moving average is $58.73. The stock has a market capitalization of $199.50 million, a PE ratio of 10.49 and a beta of 0.67.

First Trust Japan AlphaDEX Fund Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, June 26th were paid a dividend of $0.4626 per share. This is a positive change from First Trust Japan AlphaDEX Fund's previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $1.85 annualized dividend and a yield of 2.8%.

First Trust Japan AlphaDEX Fund Company Profile

The First Trust Japan AlphaDEX Fund (FJP) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Japan index. The fund tracks a tiered equal-weighted index of Japanese equities selected using both growth and value screens. FJP was launched on Apr 18, 2011 and is managed by First Trust.