First Trust Large Cap Growth AlphaDEX Fund (NASDAQ:FTC) Sets New 52-Week High - Here's Why

Key Points

• The First Trust Large Cap Growth AlphaDEX Fund (NASDAQ:FTC) recently achieved a new 52-week high of $157.02 before settling at $155.41 with a trading volume of 13,315 shares.
• The fund has declared an increased quarterly dividend of $0.1122 per share, markedly up from its previous dividend of $0.04, resulting in an annualized yield of 0.29%.
• Various institutional investors have shown interest, with JPMorgan Chase & Co. increasing its stake by 3% and Rockefeller Capital Management increasing its stake by nearly 30% in the last quarter.

First Trust Large Cap Growth AlphaDEX Fund (NASDAQ:FTC - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $157.02 and last traded at $155.41, with a volume of 13315 shares traded. The stock had previously closed at $156.16.

First Trust Large Cap Growth AlphaDEX Fund Stock Performance

The company's 50 day moving average price is $148.85 and its 200-day moving average price is $140.99. The stock has a market cap of $1.20 billion, a P/E ratio of 28.68 and a beta of 1.04.

First Trust Large Cap Growth AlphaDEX Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, June 26th were issued a $0.1122 dividend. This is a boost from First Trust Large Cap Growth AlphaDEX Fund's previous quarterly dividend of $0.04. This represents a $0.45 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, June 26th.

Institutional Trading of First Trust Large Cap Growth AlphaDEX Fund

Institutional investors and hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. boosted its stake in First Trust Large Cap Growth AlphaDEX Fund by 20.5% in the second quarter. Envestnet Asset Management Inc. now owns 31,374 shares of the company's stock valued at $4,736,000 after acquiring an additional 5,332 shares during the last quarter. BlueChip Wealth Advisors LLC purchased a new stake in First Trust Large Cap Growth AlphaDEX Fund in the second quarter worth $215,000. Greenup Street Wealth Management LLC increased its position in First Trust Large Cap Growth AlphaDEX Fund by 8.2% in the second quarter. Greenup Street Wealth Management LLC now owns 24,626 shares of the company's stock worth $3,718,000 after buying an additional 1,858 shares during the last quarter. Cushing Capital Partners LLC bought a new stake in shares of First Trust Large Cap Growth AlphaDEX Fund in the second quarter valued at $205,000. Finally, Harbour Investments Inc. lifted its position in shares of First Trust Large Cap Growth AlphaDEX Fund by 28.6% during the 2nd quarter. Harbour Investments Inc. now owns 29,260 shares of the company's stock valued at $4,417,000 after buying an additional 6,515 shares during the last quarter.

First Trust Large Cap Growth AlphaDEX Fund Company Profile

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).