First Trust Large Cap Core AlphaDEX Fund (NASDAQ:FEX) Trading Down 0.6% - Here's Why

Key Points

• Shares of First Trust Large Cap Core AlphaDEX Fund (FEX) are down 0.6%, trading at $113.50 with volume significantly below average, indicating reduced investor activity.
• The fund recently cut its dividend to $0.2708 quarterly, translating to an annual yield of 1.0%, reflecting a change in its return strategy for shareholders.
• Institutional investments in FEX have seen notable increases, with firms like NewEdge Advisors LLC and Flow Traders U.S. LLC boosting their stakes significantly during the second quarter.

First Trust Large Cap Core AlphaDEX Fund (NASDAQ:FEX - ) shares were down 0.6% during trading on Thursday . The company traded as low as $113.09 and last traded at $113.50. Approximately 10,004 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 30,909 shares. The stock had previously closed at $114.14.

First Trust Large Cap Core AlphaDEX Fund Price Performance

The business has a fifty day simple moving average of $110.35 and a 200 day simple moving average of $105.60. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 17.76 and a beta of 1.06.

First Trust Large Cap Core AlphaDEX Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, June 26th were paid a $0.2708 dividend. 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 and other institutional investors have recently bought and sold shares of FEX. NewEdge Advisors LLC lifted its holdings in shares of First Trust Large Cap Core AlphaDEX Fund by 27.5% in the 2nd quarter. NewEdge Advisors LLC now owns 6,284 shares of the company's stock valued at $691,000 after purchasing an additional 1,355 shares during the last quarter. Flow Traders U.S. LLC increased its position in First Trust Large Cap Core AlphaDEX Fund by 57.8% in the 2nd 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. Gateway Wealth Partners LLC acquired a new position in First Trust Large Cap Core AlphaDEX Fund during the 2nd quarter worth approximately $431,000. Richmond Investment Services LLC increased its position in First Trust Large Cap Core AlphaDEX Fund by 81.9% during the 2nd quarter. Richmond Investment Services LLC now owns 7,440 shares of the company's stock worth $818,000 after purchasing an additional 3,349 shares during the period. Finally, Rockefeller Capital Management L.P. increased its position in First Trust Large Cap Core AlphaDEX Fund by 0.4% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 40,202 shares of the company's stock worth $4,421,000 after purchasing an additional 173 shares during the period.

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.

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