First Trust Small Cap Growth AlphaDEX Fund (NASDAQ:FYC) Sets New 12-Month High - Still a Buy?

Key Points

• First Trust Small Cap Growth AlphaDEX Fund (NASDAQ:FYC) reached a new 12-month high, trading as high as $96.73 before settling at $96.47.
• The fund recently declared a quarterly dividend of $0.0776 per share, representing an annualized dividend yield of 0.3%.
• Institutional investors have shown increased interest, with Bank of America Corp DE and Richmond Investment Services LLC raising their holdings significantly in the second quarter, by 92.8% and 103.8% respectively.

First Trust Small Cap Growth AlphaDEX Fund (NASDAQ:FYC - )'s share price hit a new 52-week high during trading on Friday . The stock traded as high as $96.73 and last traded at $96.47, with a volume of 29553 shares changing hands. The stock had previously closed at $94.75.

First Trust Small Cap Growth AlphaDEX Fund Trading Up 1.7%

The stock has a market capitalization of $640.93 million, a PE ratio of 20.27 and a beta of 1.19. The company's 50-day moving average is $89.52 and its 200 day moving average is $80.03.

First Trust Small Cap Growth AlphaDEX Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Thursday, September 25th were issued a $0.0776 dividend. This represents a $0.31 annualized dividend and a yield of 0.3%. The ex-dividend date was Thursday, September 25th.

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

Several hedge funds and other institutional investors have recently bought and sold shares of FYC. Bank of America Corp DE increased its holdings in First Trust Small Cap Growth AlphaDEX Fund by 92.8% in the 2nd quarter. Bank of America Corp DE now owns 246,143 shares of the company's stock worth $19,588,000 after buying an additional 118,450 shares during the period. Richmond Investment Services LLC increased its holdings in First Trust Small Cap Growth AlphaDEX Fund by 103.8% in the 2nd quarter. Richmond Investment Services LLC now owns 136,207 shares of the company's stock worth $10,840,000 after buying an additional 69,359 shares during the period. Redhawk Wealth Advisors Inc. acquired a new position in First Trust Small Cap Growth AlphaDEX Fund in the 3rd quarter worth approximately $5,767,000. Jones Financial Companies Lllp increased its holdings in First Trust Small Cap Growth AlphaDEX Fund by 1,369.4% in the 1st quarter. Jones Financial Companies Lllp now owns 50,739 shares of the company's stock worth $3,491,000 after buying an additional 47,286 shares during the period. Finally, Cetera Investment Advisers increased its holdings in First Trust Small Cap Growth AlphaDEX Fund by 41.2% in the 1st quarter. Cetera Investment Advisers now owns 154,934 shares of the company's stock worth $10,659,000 after buying an additional 45,204 shares during the period.

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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