Short Interest in First Trust Large Cap Value AlphaDEX Fund (NASDAQ:FTA) Decreases By 23.3%

Key Points

• The First Trust Large Cap Value AlphaDEX Fund (NASDAQ:FTA) experienced a significant decline in short interest, dropping by 23.3% in August to 19,100 shares.
• The fund's stock price increased by 0.6% to reach $83.14, with a market cap of $1.16 billion and a PE ratio of 13.54.
• Recent institutional investments included Wealth Enhancement Advisory Services acquiring a new position worth $227,000 and GAMMA Investing LLC increasing its holdings by 4,562%.

First Trust Large Cap Value AlphaDEX Fund (NASDAQ:FTA - Get Free Report) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 19,100 shares, a drop of 23.3% from the August 15th total of 24,900 shares. Based on an average trading volume of 30,400 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.1% of the shares of the company are sold short. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 30,400 shares, the days-to-cover ratio is presently 0.6 days.

First Trust Large Cap Value AlphaDEX Fund Trading Down 0.5%

FTA traded down $0.43 during trading hours on Friday, hitting $82.76. The company's stock had a trading volume of 19,876 shares, compared to its average volume of 39,876. The company has a 50-day simple moving average of $81.33 and a 200 day simple moving average of $77.55. The firm has a market capitalization of $1.15 billion, a PE ratio of 13.54 and a beta of 1.11. First Trust Large Cap Value AlphaDEX Fund has a fifty-two week low of $66.01 and a fifty-two week high of $83.93.

First Trust Large Cap Value AlphaDEX Fund Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 26th were paid a dividend of $0.3089 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Thursday, June 26th.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its holdings in shares of First Trust Large Cap Value AlphaDEX Fund by 447.1% in the 1st quarter. Farther Finance Advisors LLC now owns 465 shares of the company's stock worth $36,000 after acquiring an additional 380 shares during the last quarter. Larson Financial Group LLC acquired a new stake in shares of First Trust Large Cap Value AlphaDEX Fund during the first quarter valued at approximately $37,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of First Trust Large Cap Value AlphaDEX Fund in the 4th quarter valued at approximately $55,000. Bessemer Group Inc. acquired a new position in First Trust Large Cap Value AlphaDEX Fund in the 2nd quarter worth approximately $62,000. Finally, Hilltop National Bank acquired a new position in First Trust Large Cap Value AlphaDEX Fund in the 2nd quarter worth approximately $82,000.

First Trust Large Cap Value AlphaDEX Fund Company Profile

The First Trust Large Cap Value AlphaDEX Fund (FTA) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Large Cap Value index. The fund selects and weights value stocks using fundamental factors including sales, book value and cash flows. FTA was launched on May 8, 2007 and is managed by First Trust.