First Trust Small Cap Growth AlphaDEX Fund (NASDAQ:FYC) Sees Unusually-High Trading Volume - Should You Buy?

Key Points

• Trading volume surged 283% to 269,096 shares, while FYC slipped 0.3% to $118.829. The ETF has a $1.28 billion market capitalization, a 20.27 P/E ratio, and a beta of 1.16.
• FYC paid a quarterly dividend of $0.1297 per share, equivalent to an annualized dividend of approximately $0.52 and a 0.4% yield.
• Institutional ownership increased, with LPL Financial, Raymond James, Bank of America, and Wells Fargo all expanding their positions; Integrated Wealth Concepts also initiated a new holding.

First Trust Small Cap Growth AlphaDEX Fund (NASDAQ:FYC - ) shares saw an uptick in trading volume on Friday . 269,096 shares changed hands during mid-day trading, an increase of 283% from the previous session's volume of 70,203 shares.The stock last traded at $118.8290 and had previously closed at $119.33.

First Trust Small Cap Growth AlphaDEX Fund Stock Down 0.3%

The stock has a market cap of $1.28 billion, a PE ratio of 20.27 and a beta of 1.16. The stock has a fifty day moving average of $119.46 and a 200-day moving average of $108.81.

First Trust Small Cap Growth AlphaDEX Fund Dividend Announcement

The firm 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 $0.1297 per share. The ex-dividend date was Thursday, June 25th. This represents a $0.52 dividend on an annualized basis and a yield of 0.4%.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. LPL Financial LLC boosted its stake in First Trust Small Cap Growth AlphaDEX Fund by 43.0% in the 4th quarter. LPL Financial LLC now owns 1,183,630 shares of the company's stock worth $113,769,000 after buying an additional 356,030 shares during the last quarter. Raymond James Financial Inc. increased its stake in shares of First Trust Small Cap Growth AlphaDEX Fund by 151.1% during the 3rd quarter. Raymond James Financial Inc. now owns 324,241 shares of the company's stock valued at $29,413,000 after acquiring an additional 195,127 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of First Trust Small Cap Growth AlphaDEX Fund by 92.8% during the 2nd quarter. Bank of America Corp DE now owns 246,143 shares of the company's stock worth $19,588,000 after acquiring an additional 118,450 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of First Trust Small Cap Growth AlphaDEX Fund by 28.9% during the 4th quarter. Wells Fargo & Company MN now owns 363,672 shares of the company's stock worth $34,956,000 after acquiring an additional 81,435 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of First Trust Small Cap Growth AlphaDEX Fund during the 3rd quarter worth about $4,331,000.

About First Trust Small Cap Growth AlphaDEX Fund

The First Trust Small Cap Growth AlphaDEX Fund (FYC) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Small Cap Growth index. The fund tracks a quant-driven index that select stocks from a small-cap growth universe in an attempt to outperform the market. FYC was launched on Apr 18, 2011 and is managed by First Trust.

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