First Trust Japan AlphaDEX Fund (NASDAQ:FJP) Trading Down 2% - Here's What Happened

Key Points

• First Trust Japan AlphaDEX Fund (NASDAQ:FJP) fell about 2% in Thursday trading, dipping as low as $73.59 before last trading at $73.95. Volume was lighter than usual, with about 6,119 shares traded versus an average of 11,870.
• The fund recently raised its quarterly dividend to $0.4847 per share from $0.11, equal to an annualized dividend of $1.94 and a yield of 2.6%.
• Several institutional investors modestly increased their positions in FJP, while the fund remains a Japan-focused ETF tracking a tiered equal-weighted index of Japanese equities selected using growth and value screens.

First Trust Japan AlphaDEX Fund (NASDAQ:FJP - )'s share price dropped 2% during mid-day trading on Thursday . The company traded as low as $73.59 and last traded at $73.95. Approximately 6,119 shares were traded during mid-day trading, a decline of 48% from the average session volume of 11,870 shares. The stock had previously closed at $75.48.

First Trust Japan AlphaDEX Fund Stock Down 2.0%

The business's 50-day simple moving average is $76.84 and its 200-day simple moving average is $75.02. The stock has a market cap of $247.73 million, a PE ratio of 10.49 and a beta of 0.59.

First Trust Japan AlphaDEX Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were issued a dividend of $0.4847 per share. This is an increase from First Trust Japan AlphaDEX Fund's previous quarterly dividend of $0.11. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Thursday, June 25th.

Institutional Trading of First Trust Japan AlphaDEX Fund

Several large investors have recently modified their holdings of FJP. Transamerica Financial Advisors LLC boosted its holdings in First Trust Japan AlphaDEX Fund by 0.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 30,183 shares of the company's stock valued at $2,028,000 after acquiring an additional 144 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of First Trust Japan AlphaDEX Fund by 2.2% during the 1st quarter. Sanctuary Advisors LLC now owns 7,510 shares of the company's stock valued at $545,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of First Trust Japan AlphaDEX Fund by 82.3% during the 1st quarter. Sound Income Strategies LLC now owns 370 shares of the company's stock valued at $28,000 after purchasing an additional 167 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of First Trust Japan AlphaDEX Fund by 5.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,379 shares of the company's stock valued at $227,000 after buying an additional 182 shares during the period. Finally, Harbour Investments Inc. increased its position in shares of First Trust Japan AlphaDEX Fund by 7.7% during the fourth quarter. Harbour Investments Inc. now owns 4,457 shares of the company's stock valued at $299,000 after buying an additional 317 shares during the period.

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.

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