First Trust Large Cap Value AlphaDEX Fund (NASDAQ:FTA) Short Interest Down 93.7% in March

Key Points

• Short interest plunged 93.7% to 4,121 shares as of March 31, leaving a short-interest ratio of just 0.1 days and effectively 0.0% of shares sold short.
• The fund recently paid a quarterly dividend of $0.3622 (paid Mar 31), equal to a $1.45 annualized payout and a ~1.6% yield.
• Several large institutions materially increased positions, including LPL Financial, NewEdge Advisors, Bank of America and Royal Bank of Canada, signaling notable institutional inflows.

First Trust Large Cap Value AlphaDEX Fund (NASDAQ:FTA - ) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totaling 4,121 shares, a drop of 93.7% from the March 15th total of 65,708 shares. Based on an average daily volume of 43,332 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the shares of the stock are sold short.

First Trust Large Cap Value AlphaDEX Fund Stock Down 0.7%

Shares of FTA traded down $0.70 during trading hours on Friday, hitting $93.12. The company had a trading volume of 19,607 shares, compared to its average volume of 41,638. The firm has a market cap of $1.28 billion, a P/E ratio of 13.54 and a beta of 0.85. The stock's 50 day moving average price is $92.96 and its 200 day moving average price is $87.92. First Trust Large Cap Value AlphaDEX Fund has a 52-week low of $68.67 and a 52-week high of $95.64.

First Trust Large Cap Value AlphaDEX Fund Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th were issued a $0.3622 dividend. The ex-dividend date was Thursday, March 26th. This represents a $1.45 annualized dividend and a dividend yield of 1.6%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. LPL Financial LLC increased its holdings in First Trust Large Cap Value AlphaDEX Fund by 8.4% during the 4th quarter. LPL Financial LLC now owns 1,001,829 shares of the company's stock valued at $86,305,000 after purchasing an additional 77,963 shares during the period. NewEdge Advisors LLC boosted its position in First Trust Large Cap Value AlphaDEX Fund by 257.5% during the 4th quarter. NewEdge Advisors LLC now owns 99,385 shares of the company's stock valued at $8,562,000 after acquiring an additional 71,586 shares in the last quarter. Bank of America Corp DE boosted its position in First Trust Large Cap Value AlphaDEX Fund by 13.4% during the 2nd quarter. Bank of America Corp DE now owns 342,742 shares of the company's stock valued at $26,950,000 after acquiring an additional 40,412 shares in the last quarter. Royal Bank of Canada boosted its position in First Trust Large Cap Value AlphaDEX Fund by 9.3% during the 4th quarter. Royal Bank of Canada now owns 297,555 shares of the company's stock valued at $25,634,000 after acquiring an additional 25,195 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its position in First Trust Large Cap Value AlphaDEX Fund by 211.6% during the 2nd quarter. Baird Financial Group Inc. now owns 31,020 shares of the company's stock valued at $2,439,000 after acquiring an additional 21,066 shares in the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.