First Trust Small Cap Value AlphaDEX Fund (NASDAQ:FYT) Short Interest Down 70.1% in April

Key Points

• Short interest plunged 70.1% in April — falling to 5,945 shares (about 0.2% of shares outstanding) with a days-to-cover of just 0.2 based on average daily volume.
• Several institutions recently built or increased positions in FYT, including a 32.2% stake increase by JPMorgan to 923 shares and new stakes from Sound Income Strategies, Founders Financial Alliance, Corient Private Wealth, and Level Four Advisory.
• The fund paid a quarterly dividend of $0.2014 (annualized $0.81, ~1.2% yield); shares trade near a 12‑month high (~$67.71) with a market cap around $176.5 million.

First Trust Small Cap Value AlphaDEX Fund (NASDAQ:FYT - ) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totaling 5,945 shares, a drop of 70.1% from the March 31st total of 19,854 shares. Based on an average trading volume of 35,973 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.2% of the shares of the company are sold short.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of FYT. Sound Income Strategies LLC acquired a new stake in shares of First Trust Small Cap Value AlphaDEX Fund in the 4th quarter valued at $44,000. JPMorgan Chase & Co. increased its stake in shares of First Trust Small Cap Value AlphaDEX Fund by 32.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 923 shares of the company's stock valued at $52,000 after buying an additional 225 shares during the period. Founders Financial Alliance LLC acquired a new stake in shares of First Trust Small Cap Value AlphaDEX Fund in the 3rd quarter valued at $159,000. Corient Private Wealth LLC acquired a new stake in shares of First Trust Small Cap Value AlphaDEX Fund in the 4th quarter valued at $202,000. Finally, Level Four Advisory Services LLC acquired a new stake in shares of First Trust Small Cap Value AlphaDEX Fund in the 3rd quarter valued at $201,000.

First Trust Small Cap Value AlphaDEX Fund Trading Up 0.5%

Shares of FYT stock opened at $66.59 on Friday. The stock has a 50 day moving average of $63.02 and a two-hundred day moving average of $59.44. First Trust Small Cap Value AlphaDEX Fund has a 12 month low of $45.50 and a 12 month high of $67.71. The company has a market capitalization of $176.46 million, a P/E ratio of 10.91 and a beta of 1.00.

First Trust Small Cap Value AlphaDEX Fund Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were given a dividend of $0.2014 per share. This represents a $0.81 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Thursday, March 26th.

First Trust Small Cap Value AlphaDEX Fund Company Profile

The First Trust Small Cap Value AlphaDEX Fund (FYT) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Small Cap Value index. The fund tracks an index of securities pulled from the NASDAQ US 700 Small Cap Index that are rescreened and weighted based on a tiered process. FYT was launched on Apr 18, 2011 and is managed by First Trust.

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