First Trust Multi Cap Growth AlphaDEX Fund (NASDAQ:FAD) Sees Strong Trading Volume - Should You Buy?

Key Points

• FAD shares rose 1.8% to $185.92, while trading volume increased 77% to 23,849 shares, signaling unusually strong activity.
• The ETF raised its quarterly dividend to $0.0711 per share from $0.02, equating to an annualized dividend of about $0.28 and a 0.2% yield.
• Institutional investors generally increased their positions, including Raymond James Financial, which boosted its stake by 62.5%, and Bank of America, which increased holdings by 37.3%.

First Trust Multi Cap Growth AlphaDEX Fund (NASDAQ:FAD - ) saw unusually-high trading volume on Monday . 23,849 shares changed hands during mid-day trading, an increase of 77% from the previous session's volume of 13,448 shares.The stock last traded at $185.9160 and had previously closed at $183.56.

First Trust Multi Cap Growth AlphaDEX Fund Stock Up 1.8%

The company has a market capitalization of $579.09 million, a P/E ratio of 25.26 and a beta of 1.15. The company has a 50-day moving average of $189.13 and a two-hundred day moving average of $176.39.

First Trust Multi Cap Growth AlphaDEX Fund Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FAD. Wells Fargo & Company MN boosted its stake in First Trust Multi Cap Growth AlphaDEX Fund by 5.1% during the fourth quarter. Wells Fargo & Company MN now owns 136,980 shares of the company's stock worth $22,171,000 after acquiring an additional 6,702 shares in the last quarter. Raymond James Financial Inc. increased its stake in shares of First Trust Multi Cap Growth AlphaDEX Fund by 62.5% during the second quarter. Raymond James Financial Inc. now owns 134,552 shares of the company's stock valued at $19,755,000 after purchasing an additional 51,752 shares in the last quarter. Keystone Wealth Services LLC purchased a new position in shares of First Trust Multi Cap Growth AlphaDEX Fund during the fourth quarter valued at approximately $8,708,000. Osaic Holdings Inc. boosted its position in shares of First Trust Multi Cap Growth AlphaDEX Fund by 0.7% in the 4th quarter. Osaic Holdings Inc. now owns 48,706 shares of the company's stock worth $7,883,000 after purchasing an additional 355 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of First Trust Multi Cap Growth AlphaDEX Fund by 37.3% in the 1st 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 during the last quarter.

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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