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 at $160.78, with the last trading price at $160.74.
• The fund increased its quarterly dividend to $0.1122 from the previous $0.04, representing an annual yield of 0.3%.
• Several institutional investors, including Wealthcare Advisory Partners and CX Institutional, significantly boosted their positions in the fund during the first quarter.

First Trust Large Cap Growth AlphaDEX Fund (NASDAQ:FTC - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $160.78 and last traded at $160.74, with a volume of 546 shares trading hands. The stock had previously closed at $159.06.

First Trust Large Cap Growth AlphaDEX Fund Stock Performance

The company has a 50-day simple moving average of $155.22 and a 200-day simple moving average of $143.30. The stock 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 company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, June 26th were paid a $0.1122 dividend. This is an increase from First Trust Large Cap Growth AlphaDEX Fund's previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $0.45 annualized dividend and a dividend yield of 0.3%.

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

Several hedge funds and other institutional investors have recently made changes to their positions in FTC. Cambridge Investment Research Advisors Inc. grew its stake in shares of 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 purchasing an additional 112,072 shares during the period. Raymond James Financial Inc. grew its stake in shares of First Trust Large Cap Growth AlphaDEX Fund by 37.8% during the second 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 period. Elevation Capital Advisory LLC acquired a new stake in shares of First Trust Large Cap Growth AlphaDEX Fund during the first quarter worth $7,501,000. GAMMA Investing LLC grew its stake in shares of First Trust Large Cap Growth AlphaDEX Fund by 12,171.6% during the first quarter. GAMMA Investing LLC now owns 42,705 shares of the company's stock worth $5,611,000 after purchasing an additional 42,357 shares during the period. Finally, CX Institutional grew its stake in shares of 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 purchasing an additional 35,892 shares during the period.

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).