First Trust Large Cap Core AlphaDEX Fund (NASDAQ:FEX) Hits New 52-Week High - Time to Buy?

Key Points

• The First Trust Large Cap Core AlphaDEX Fund (NASDAQ:FEX) reached a new 12-month high with shares trading at $113.95 after closing at $113.12.
• The fund's recent quarterly dividend was cut to $0.2708 per share, resulting in an annual yield of 0.9% for investors.
• Institutional investors are actively buying into the fund, with several large purchases reported in the second quarter, including a stake valued at $238,000 by Winebrenner Capital Management LLC.

First Trust Large Cap Core AlphaDEX Fund (NASDAQ:FEX - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $113.78 and last traded at $113.95, with a volume of 9696 shares changing hands. The stock had previously closed at $113.12.

First Trust Large Cap Core AlphaDEX Fund Trading Up 0.1%

The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 17.76 and a beta of 1.06. The stock has a fifty day moving average price of $110.47 and a 200 day moving average price of $105.58.

First Trust Large Cap Core AlphaDEX Fund Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, June 26th were issued a dividend of $0.2708 per share. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.0%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Captrust Financial Advisors increased its holdings in shares of First Trust Large Cap Core AlphaDEX Fund by 4.9% during the 2nd quarter. Captrust Financial Advisors now owns 16,173 shares of the company's stock valued at $1,778,000 after acquiring an additional 751 shares during the last quarter. Bank of America Corp DE boosted its position in shares of First Trust Large Cap Core AlphaDEX Fund by 4.9% in the second quarter. Bank of America Corp DE now owns 226,970 shares of the company's stock valued at $24,958,000 after acquiring an additional 10,567 shares during the period. NewEdge Advisors LLC boosted its position in shares of First Trust Large Cap Core AlphaDEX Fund by 27.5% in the second quarter. NewEdge Advisors LLC now owns 6,284 shares of the company's stock valued at $691,000 after acquiring an additional 1,355 shares during the period. Flow Traders U.S. LLC boosted its position in shares of First Trust Large Cap Core AlphaDEX Fund by 57.8% in the second quarter. Flow Traders U.S. LLC now owns 51,239 shares of the company's stock valued at $5,634,000 after acquiring an additional 18,777 shares during the period. Finally, Gateway Wealth Partners LLC bought a new stake in shares of First Trust Large Cap Core AlphaDEX Fund in the second quarter valued at approximately $431,000.

First Trust Large Cap Core AlphaDEX Fund Company Profile

First Trust Large Cap Core AlphaDEX Fund (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield of an equity index called the Defined Large Cap Core Index (the Index). The Index is an enhanced index created and administered by Standard & Poor's, which employs the AlphaDEX stock selection methodology to select stocks from the S&P 500 Index.