First Trust Multi Cap Growth AlphaDEX Fund (NASDAQ:FAD) Sees Strong Trading Volume - Here's What Happened

Key Points

• FAD saw heavier trading on Thursday, with 17,049 shares changing hands, up 30% from the prior session. The ETF last traded at $185.5850, slightly below its previous close of $186.28.
• The fund recently raised its quarterly dividend to $0.0711 per share from $0.02 previously. That translates to an annualized dividend of $0.28 and a yield of about 0.2%.
• Several institutional investors adjusted their holdings in First Trust Multi Cap Growth AlphaDEX Fund, including increases from TrueWealth Advisors and Bank of America Corp DE. The fund has a market cap of $565.63 million and trades above its 200-day moving average but below its 50-day average.

First Trust Multi Cap Growth AlphaDEX Fund (NASDAQ:FAD - ) shares saw strong trading volume on Thursday . 17,049 shares changed hands during mid-day trading, an increase of 30% from the previous session's volume of 13,127 shares.The stock last traded at $185.5850 and had previously closed at $186.28.

First Trust Multi Cap Growth AlphaDEX Fund Stock Performance

The stock has a market capitalization of $565.63 million, a price-to-earnings ratio of 25.26 and a beta of 1.15. The firm's fifty day simple moving average is $188.77 and its 200 day simple moving average is $175.61.

First Trust Multi Cap Growth AlphaDEX Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were given a dividend of $0.0711 per share. This is a positive change from First Trust Multi Cap Growth AlphaDEX Fund's previous quarterly dividend of $0.02. This represents a $0.28 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Thursday, June 25th.

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

Several institutional investors have recently added to or reduced their stakes in FAD. TrueWealth Advisors LLC increased its holdings in First Trust Multi Cap Growth AlphaDEX Fund by 22.9% during the 2nd quarter. TrueWealth Advisors LLC now owns 5,805 shares of the company's stock worth $1,161,000 after purchasing an additional 1,080 shares in the last quarter. Serenity Investment Advisors acquired a new position in shares of First Trust Multi Cap Growth AlphaDEX Fund during the first quarter worth about $173,000. Western Wealth Management LLC acquired a new position in shares of First Trust Multi Cap Growth AlphaDEX Fund during the first quarter worth about $82,000. Bank of America Corp DE grew its holdings in shares of First Trust Multi Cap Growth AlphaDEX Fund by 37.3% during the first quarter. Bank of America Corp DE now owns 41,501 shares of the company's stock worth $6,595,000 after buying an additional 11,276 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of First Trust Multi Cap Growth AlphaDEX Fund by 7.8% during the first quarter. Royal Bank of Canada now owns 34,241 shares of the company's stock worth $5,442,000 after buying an additional 2,485 shares in the last quarter.

About First Trust Multi Cap Growth AlphaDEX Fund

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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