First Trust Multi Cap Growth AlphaDEX Fund (NASDAQ:FAD) Sees Large Growth in Short Interest

Key Points

• Short interest surged: short interest rose 44.2% to 21,633 shares as of March 13, representing about 0.9% of shares outstanding and a short-interest ratio of 1.6 days based on average daily volume.
• Dividend increased: the fund raised its quarterly dividend to $0.0218 (from $0.01), an annualized $0.09 (0.1% yield), with an ex-dividend date of March 26 and payment on March 31.
• Shares traded down 1.7% to $155.33 on the latest session; the fund has a market cap of $380.56 million, a P/E of 25.26, 50- and 200-day moving averages of $165.75 and $163.45, and a 52-week range of $113.03–$172.23.

First Trust Multi Cap Growth AlphaDEX Fund (NASDAQ:FAD - ) saw a large increase in short interest in March. As of March 13th, there was short interest totaling 21,633 shares, an increase of 44.2% from the February 26th total of 14,997 shares. Based on an average daily volume of 13,835 shares, the short-interest ratio is presently 1.6 days. Approximately 0.9% of the company's shares are sold short.

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

Large investors have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of First Trust Multi Cap Growth AlphaDEX Fund during the fourth quarter worth about $37,000. Garton & Associates Financial Advisors LLC bought a new position in First Trust Multi Cap Growth AlphaDEX Fund in the 4th quarter valued at about $50,000. Cullen Frost Bankers Inc. acquired a new position in First Trust Multi Cap Growth AlphaDEX Fund during the 4th quarter valued at about $58,000. US Bancorp DE acquired a new position in First Trust Multi Cap Growth AlphaDEX Fund during the 3rd quarter valued at about $62,000. Finally, Sound Income Strategies LLC increased its holdings in First Trust Multi Cap Growth AlphaDEX Fund by 411.1% during the 4th quarter. Sound Income Strategies LLC now owns 460 shares of the company's stock worth $78,000 after purchasing an additional 370 shares in the last quarter.

First Trust Multi Cap Growth AlphaDEX Fund Stock Down 1.7%

FAD traded down $2.76 during midday trading on Friday, hitting $155.33. The company had a trading volume of 9,905 shares, compared to its average volume of 14,303. The stock's 50 day moving average price is $165.75 and its 200 day moving average price is $163.45. First Trust Multi Cap Growth AlphaDEX Fund has a 52 week low of $113.03 and a 52 week high of $172.23. The company has a market capitalization of $380.56 million, a price-to-earnings ratio of 25.26 and a beta of 1.15.

First Trust Multi Cap Growth AlphaDEX Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th will be issued a dividend of $0.0218 per share. This is a positive change from First Trust Multi Cap Growth AlphaDEX Fund's previous quarterly dividend of $0.01. This represents a $0.09 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Thursday, March 26th.

First Trust Multi Cap Growth AlphaDEX Fund Company Profile

First Trust Multi Cap Growth AlphaDEX Fund (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield of an equity index called the Defined Multi Cap Growth Index (the Index). The Index is an enhanced index created and administered by Standard & Poor's, which selects stocks from the S&P Composite 1500/Citigroup Growth Index. Standard & Poor's constructs the Index by employing the AlphaDEX stock selection methodology to rank the stocks from the three component indices that comprise the S&P Composite 1500/Citigroup Growth Index, which are the S&P 500/Citigroup Growth Index, the S&P MidCap 400/Citigroup Growth Index and the S&P SmallCap 600/Citigroup Growth Index.

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