First Trust Large Cap Growth AlphaDEX Fund (NASDAQ:FTC) Sees Large Decrease in Short Interest

Key Points

• First Trust Large Cap Growth AlphaDEX Fund (NASDAQ:FTC) experienced a significant 37.3% decrease in short interest, dropping from 53,300 shares to 33,400 shares as of September 15th.
• The fund's quarterly dividend was increased to $0.1324 per share, up from $0.11, reflecting a modest yield of 0.3%.
• Institutional investors, such as Cambridge Investment Research Advisors Inc. and Raymond James Financial Inc., notably boosted their holdings in the fund, indicating growing investor confidence.

First Trust Large Cap Growth AlphaDEX Fund (NASDAQ:FTC - ) was the recipient of a large drop in short interest in September. As of September 15th, there was short interest totaling 33,400 shares, a drop of 37.3% from the August 31st total of 53,300 shares. Based on an average daily trading volume, of 21,000 shares, the days-to-cover ratio is presently 1.6 days. Based on an average daily trading volume, of 21,000 shares, the days-to-cover ratio is presently 1.6 days.

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

A number of hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. boosted its position in First Trust Large Cap Growth AlphaDEX Fund by 95.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 229,951 shares of the company's stock worth $30,216,000 after acquiring an additional 112,072 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in shares of 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 worth $40,484,000 after purchasing an additional 73,618 shares during the last quarter. Elevation Capital Advisory LLC purchased a new stake in shares of First Trust Large Cap Growth AlphaDEX Fund in the first quarter valued at approximately $7,501,000. GAMMA Investing LLC increased its holdings in shares of First Trust Large Cap Growth AlphaDEX Fund by 12,171.6% in the first quarter. GAMMA Investing LLC now owns 42,705 shares of the company's stock valued at $5,611,000 after purchasing an additional 42,357 shares during the last quarter. Finally, CX Institutional lifted its position in First Trust Large Cap Growth AlphaDEX Fund by 61.8% during the first quarter. CX Institutional now owns 93,971 shares of the company's stock worth $12,348,000 after buying an additional 35,892 shares in the last quarter.

First Trust Large Cap Growth AlphaDEX Fund Trading Down 0.3%

NASDAQ:FTC traded down $0.52 during trading hours on Friday, hitting $160.67. 28,796 shares of the stock were exchanged, compared to its average volume of 26,404. The firm's fifty day moving average price is $157.74 and its 200 day moving average price is $146.09. First Trust Large Cap Growth AlphaDEX Fund has a 52-week low of $113.13 and a 52-week high of $162.87. The company has a market cap of $1.26 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 Tuesday, September 30th. Shareholders of record on Thursday, September 25th were paid a dividend of $0.1324 per share. This is a boost from First Trust Large Cap Growth AlphaDEX Fund's previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Thursday, September 25th. This represents a $0.53 annualized dividend and a yield of 0.3%.

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).

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