First Trust Switzerland AlphaDEX Fund (NASDAQ:FSZ) Sees Significant Decline in Short Interest

Key Points

• Short interest in First Trust Switzerland AlphaDEX Fund decreased by 23.0% in August, dropping from 12,600 shares to 9,700 shares.
• The fund recently announced a quarterly dividend increase from $0.04 to $1.1111, reflecting an annualized yield of 5.6%.
• Institutional investors have shown significant interest, with Jane Street Group LLC increasing its position by 216.5% and several others acquiring new stakes during the second quarter.

First Trust Switzerland AlphaDEX Fund (NASDAQ:FSZ - Get Free Report) saw a significant drop in short interest in August. As of August 31st, there was short interest totaling 9,700 shares, a drop of 23.0% from the August 15th total of 12,600 shares. Based on an average daily volume of 2,600 shares, the days-to-cover ratio is currently 3.7 days. Approximately 1.0% of the company's stock are short sold. Approximately 1.0% of the company's stock are short sold. Based on an average daily volume of 2,600 shares, the days-to-cover ratio is currently 3.7 days.

First Trust Switzerland AlphaDEX Fund Stock Down 0.9%

First Trust Switzerland AlphaDEX Fund stock traded down $0.74 during mid-day trading on Friday, reaching $77.19. 506 shares of the company's stock were exchanged, compared to its average volume of 3,282. The business's fifty day simple moving average is $78.57 and its 200 day simple moving average is $74.34. The firm has a market capitalization of $77.19 million, a PE ratio of 21.38 and a beta of 0.86. First Trust Switzerland AlphaDEX Fund has a one year low of $61.24 and a one year high of $81.10.

First Trust Switzerland AlphaDEX Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, June 26th were issued a dividend of $1.1111 per share. This represents a $4.44 dividend on an annualized basis and a yield of 5.8%. This is an increase from First Trust Switzerland AlphaDEX Fund's previous quarterly dividend of $0.04. The ex-dividend date was Thursday, June 26th.

Institutional Trading of First Trust Switzerland AlphaDEX Fund

A number of large investors have recently bought and sold shares of the company. StoneX Group Inc. purchased a new stake in First Trust Switzerland AlphaDEX Fund in the second quarter worth $223,000. First Trust Advisors LP grew its position in shares of First Trust Switzerland AlphaDEX Fund by 11.2% in the second quarter. First Trust Advisors LP now owns 345,814 shares of the company's stock valued at $26,451,000 after purchasing an additional 34,796 shares in the last quarter. MTM Investment Management LLC purchased a new position in shares of First Trust Switzerland AlphaDEX Fund in the second quarter valued at $143,000. BFI Infinity Ltd. bought a new stake in First Trust Switzerland AlphaDEX Fund during the second quarter valued at $252,000. Finally, Jane Street Group LLC boosted its stake in First Trust Switzerland AlphaDEX Fund by 216.5% during the first quarter. Jane Street Group LLC now owns 76,521 shares of the company's stock valued at $5,177,000 after buying an additional 52,346 shares during the period.

First Trust Switzerland AlphaDEX Fund Company Profile

The First Trust Switzerland AlphaDEX Fund (FSZ) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Switzerland index. The fund tracks a tiered, equal-weighted index of 40 Swiss companies selected from the NASDAQ Switzerland Index. It aims to outperform the broader market using a quant-based methodology.