First Trust Large Cap Growth AlphaDEX Fund (NASDAQ:FTC) Sees Significant 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 - Get Free Report) was the recipient 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. Approximately 0.7% of the shares of the company are sold short. Based on an average daily volume of 20,800 shares, the short-interest ratio is presently 2.6 days. Based on an average daily volume of 20,800 shares, the short-interest ratio is presently 2.6 days. Approximately 0.7% of the shares of the company are sold short.

Institutional Trading of First Trust Large Cap Growth AlphaDEX Fund

A number of large investors have recently bought and sold shares of the business. Osaic Holdings Inc. boosted its stake in First Trust Large Cap Growth AlphaDEX Fund by 25.0% during the 2nd quarter. Osaic Holdings Inc. now owns 34,206 shares of the company's stock worth $5,158,000 after purchasing an additional 6,851 shares during the period. Asset Dedication LLC raised its position in First Trust Large Cap Growth AlphaDEX Fund by 124.2% during the 2nd quarter. Asset Dedication LLC now owns 1,083 shares of the company's stock worth $164,000 after buying an additional 600 shares during the last quarter. Geneos Wealth Management Inc. raised its position in First Trust Large Cap Growth AlphaDEX Fund by 74.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 8,323 shares of the company's stock worth $1,256,000 after buying an additional 3,539 shares during the last quarter. Two Sigma Securities LLC purchased a new position in First Trust Large Cap Growth AlphaDEX Fund during the 2nd quarter worth $266,000. Finally, MML Investors Services LLC raised its position in First Trust Large Cap Growth AlphaDEX Fund by 2.2% during the 2nd quarter. MML Investors Services LLC now owns 11,293 shares of the company's stock worth $1,705,000 after buying an additional 246 shares during the last quarter.

First Trust Large Cap Growth AlphaDEX Fund Stock Up 1.1%

NASDAQ:FTC traded up $1.84 during trading hours on Thursday, reaching $162.04. 8,147 shares of the company's stock were exchanged, compared to its average volume of 27,039. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 28.68 and a beta of 1.04. The company has a 50-day moving average of $155.98 and a 200 day moving average of $143.83. First Trust Large Cap Growth AlphaDEX Fund has a 1-year low of $113.13 and a 1-year high of $162.70.

First Trust Large Cap Growth AlphaDEX Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, June 26th were paid a dividend of $0.1122 per share. The ex-dividend date was Thursday, June 26th. This represents a $0.45 dividend on an annualized basis 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.

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).