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

Key Points

• The First Trust Large Cap Growth AlphaDEX Fund (NASDAQ:FTC) experienced a significant increase in short interest, rising by 116.7% from mid-August, totaling 53,300 shares by August 31st.
• The fund recently announced a quarterly dividend increase to $0.1122 per share, raising its annualized yield to 0.3%, up from the previous $0.04.
• Institutional investors have shown increasing interest, acquiring new stakes in the fund, with notable acquisitions valued between $37,000 and $133,000 over recent quarters.

First Trust Large Cap Growth AlphaDEX Fund (NASDAQ:FTC - ) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 53,300 shares, an increase of 116.7% from the August 15th total of 24,600 shares. Based on an average daily trading volume, of 20,800 shares, the short-interest ratio is presently 2.6 days. Currently, 0.7% of the company's shares are sold short. Currently, 0.7% of the company's shares are sold short. Based on an average daily trading volume, of 20,800 shares, the short-interest ratio is presently 2.6 days.

First Trust Large Cap Growth AlphaDEX Fund Stock Down 0.7%

NASDAQ FTC traded down $1.17 on Friday, hitting $160.04. The company's stock had a trading volume of 19,437 shares, compared to its average volume of 27,383. The company's 50-day moving average is $155.22 and its 200 day moving average is $143.25. The firm has a market cap of $1.26 billion, a PE ratio of 28.68 and a beta of 1.04. First Trust Large Cap Growth AlphaDEX Fund has a 1-year low of $113.13 and a 1-year high of $161.50.

First Trust Large Cap Growth AlphaDEX Fund Increases Dividend

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

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

Institutional investors have recently made changes to their positions in the stock. Rossby Financial LCC acquired a new stake in shares of First Trust Large Cap Growth AlphaDEX Fund in the first quarter valued at about $37,000. BankPlus Trust Department acquired a new stake in First Trust Large Cap Growth AlphaDEX Fund during the 2nd quarter valued at approximately $46,000. Mpwm Advisory Solutions LLC acquired a new stake in First Trust Large Cap Growth AlphaDEX Fund during the 4th quarter valued at approximately $60,000. Hilltop National Bank bought a new position in First Trust Large Cap Growth AlphaDEX Fund during the 2nd quarter worth approximately $104,000. Finally, Centaurus Financial Inc. acquired a new position in shares of First Trust Large Cap Growth AlphaDEX Fund in the 4th quarter worth approximately $133,000.

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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