First Trust Multi Cap Value AlphaDEX Fund (NASDAQ:FAB) Sees Significant Decrease in Short Interest

Key Points

• Short interest fell 48.6% to 30,996 shares as of July 31, representing 1.9% of FAB’s shares outstanding and 1.2 days to cover.
• FAB shares rose to $108.13, near their 52-week high of $108.23, with the stock trading above both its 50-day and 200-day moving averages.
• The fund paid a quarterly dividend of $0.3468 per share, equivalent to an annualized $1.39 payout and a 1.3% yield; several institutional investors also recently initiated or increased positions.

First Trust Multi Cap Value AlphaDEX Fund (NASDAQ:FAB - ) saw a large decrease in short interest in July. As of July 31st, there was short interest totaling 30,996 shares, a decrease of 48.6% from the July 15th total of 60,306 shares. Currently, 1.9% of the company's stock are sold short. Based on an average trading volume of 25,771 shares, the days-to-cover ratio is currently 1.2 days.

First Trust Multi Cap Value AlphaDEX Fund Stock Performance

Shares of NASDAQ FAB traded up $0.20 during mid-day trading on Friday, reaching $108.13. 10,518 shares of the company traded hands, compared to its average volume of 7,090. The company's fifty day moving average is $103.18 and its two-hundred day moving average is $98.89. First Trust Multi Cap Value AlphaDEX Fund has a fifty-two week low of $83.76 and a fifty-two week high of $108.23. The stock has a market cap of $173.01 million, a PE ratio of 11.94 and a beta of 0.87.

First Trust Multi Cap Value AlphaDEX Fund Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were given a dividend of $0.3468 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $1.39 dividend on an annualized basis and a yield of 1.3%.

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

A number of institutional investors have recently modified their holdings of FAB. International Assets Investment Management LLC bought a new stake in shares of First Trust Multi Cap Value AlphaDEX Fund during the 4th quarter worth $25,000. Anchor Investment Management LLC bought a new position in First Trust Multi Cap Value AlphaDEX Fund in the 1st quarter worth $33,000. Hilton Head Capital Partners LLC bought a new position in First Trust Multi Cap Value AlphaDEX Fund in the 4th quarter worth $53,000. Geneos Wealth Management Inc. lifted its position in First Trust Multi Cap Value AlphaDEX Fund by 155.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 628 shares of the company's stock worth $51,000 after acquiring an additional 382 shares during the last quarter. Finally, Centaurus Financial Inc. acquired a new position in First Trust Multi Cap Value AlphaDEX Fund during the 1st quarter worth $105,000.

First Trust Multi Cap Value AlphaDEX Fund Company Profile

The First Trust Multi Cap Value AlphaDEX Fund (FAB) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Multi Cap Value index. The fund tracks an index that uses fundamental factors to select and weight value stocks from the Nasdaq US Select Indices. FAB was launched on May 8, 2007 and is managed by First Trust.

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