First Trust Large Cap Growth AlphaDEX Fund (NASDAQ:FTC) Hits New 1-Year High - Should You Buy?

Key Points

• The First Trust Large Cap Growth AlphaDEX Fund (NASDAQ:FTC) reached a new 1-year high of $163.75 during trading, a significant increase from its previous closing price of $160.95.
• The fund recently increased its quarterly dividend to $0.1324 per share, up from $0.11, marking a yield of 0.3% for investors.
• Several institutional investors have increased their stakes in the fund, including Raymond James Financial Inc., which boosted its holdings by 37.8% in the last quarter.

First Trust Large Cap Growth AlphaDEX Fund (NASDAQ:FTC - ) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $163.35 and last traded at $163.75, with a volume of 588 shares traded. The stock had previously closed at $160.95.

First Trust Large Cap Growth AlphaDEX Fund Trading Up 1.6%

The stock has a fifty day moving average price of $159.08 and a 200-day moving average price of $148.83. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 28.68 and a beta of 1.04.

First Trust Large Cap Growth AlphaDEX Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Thursday, September 25th were issued a dividend of $0.1324 per share. The ex-dividend date of this dividend was Thursday, September 25th. This represents a $0.53 dividend on an annualized basis and a yield of 0.3%. This is a positive change from First Trust Large Cap Growth AlphaDEX Fund's previous quarterly dividend of $0.11.

Institutional Investors Weigh In On First Trust Large Cap Growth AlphaDEX Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. increased its holdings in First Trust Large Cap Growth AlphaDEX Fund by 37.8% during the 2nd quarter. Raymond James Financial Inc. now owns 268,160 shares of the company's stock valued at $40,484,000 after purchasing an additional 73,618 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in First Trust Large Cap Growth AlphaDEX Fund by 0.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 192,639 shares of the company's stock valued at $30,949,000 after buying an additional 573 shares during the last quarter. Baird Financial Group Inc. boosted its position in First Trust Large Cap Growth AlphaDEX Fund by 6.1% in the 1st quarter. Baird Financial Group Inc. now owns 158,701 shares of the company's stock valued at $20,853,000 after buying an additional 9,054 shares during the last quarter. Bank of America Corp DE boosted its position in First Trust Large Cap Growth AlphaDEX Fund by 2.8% in the 2nd quarter. Bank of America Corp DE now owns 154,077 shares of the company's stock valued at $23,261,000 after buying an additional 4,127 shares during the last quarter. Finally, CX Institutional boosted its position in First Trust Large Cap Growth AlphaDEX Fund by 22.4% in the 2nd quarter. CX Institutional now owns 114,984 shares of the company's stock valued at $17,359,000 after buying an additional 21,013 shares during the last quarter.

About First Trust Large Cap Growth AlphaDEX Fund

First Trust Large Cap Growth AlphaDEX Fund (the Fund), formerly First Trust Large Cap Growth Opportunities AlphaDEX Fund, is an exchange-traded fund. The investment objective of the Fund is to seek investment results that correspond generally to the price and yield of an equity index called the Defined Large Cap Growth Index (the Index).

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