First Trust Large Cap Growth AlphaDEX Fund (NASDAQ:FTC) Sets New 52-Week High - Time to Buy?

Key Points

• The First Trust Large Cap Growth AlphaDEX Fund (NASDAQ:FTC) reached a new 52-week high of $158.02 during mid-day trading, closing at $156.72 with a trading volume of 2,110 shares.
• The fund recently increased its quarterly dividend to $0.1122, marking a total annual yield of 0.3%, up from the previous dividend of $0.04.
• Institutional investors have shown increased interest, with firms like G&S Capital LLC and US Bancorp DE raising their stakes in the fund in recent months.

First Trust Large Cap Growth AlphaDEX Fund (NASDAQ:FTC - ) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $158.02 and last traded at $156.72, with a volume of 2110 shares changing hands. The stock had previously closed at $157.19.

First Trust Large Cap Growth AlphaDEX Fund Trading Down 0.7%

The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 28.68 and a beta of 1.04. The firm's 50 day simple moving average is $150.63 and its 200-day simple moving average is $141.51.

First Trust Large Cap Growth AlphaDEX Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 26th were paid a $0.1122 dividend. 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.

Hedge Funds Weigh In On First Trust Large Cap Growth AlphaDEX Fund

Several institutional investors have recently bought and sold shares of FTC. G&S Capital LLC lifted its stake in shares of First Trust Large Cap Growth AlphaDEX Fund by 1.0% in the second quarter. G&S Capital LLC now owns 7,161 shares of the company's stock valued at $1,081,000 after purchasing an additional 71 shares during the period. US Bancorp DE lifted its stake in shares of First Trust Large Cap Growth AlphaDEX Fund by 2.2% in the second quarter. US Bancorp DE now owns 3,729 shares of the company's stock valued at $563,000 after purchasing an additional 80 shares during the period. HighTower Advisors LLC lifted its stake in shares of First Trust Large Cap Growth AlphaDEX Fund by 1.7% in the first quarter. HighTower Advisors LLC now owns 8,886 shares of the company's stock valued at $1,168,000 after purchasing an additional 150 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of First Trust Large Cap Growth AlphaDEX Fund by 3.0% in the fourth quarter. JPMorgan Chase & Co. now owns 5,627 shares of the company's stock valued at $778,000 after purchasing an additional 165 shares during the period. Finally, Integrated Wealth Concepts LLC lifted its stake in shares of First Trust Large Cap Growth AlphaDEX Fund by 1.6% in the first quarter. Integrated Wealth Concepts LLC now owns 10,517 shares of the company's stock valued at $1,382,000 after purchasing an additional 169 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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.