First Trust United Kingdom AlphaDEX Fund (NASDAQ:FKU) Shares Down 1% - Here's What Happened

Key Points

• Shares of the First Trust United Kingdom AlphaDEX Fund (NASDAQ:FKU) fell 1% during mid-day trading, with a last trading price of $47.76.
• The fund recently increased its quarterly dividend to $0.5288, up from $0.16, which represents an annualized dividend of $2.12 and a yield of 4.4%.
• Several institutional investors, including Jane Street Group and First Trust Advisors, have increased their holdings in the fund during the second quarter.

First Trust United Kingdom AlphaDEX Fund (NASDAQ:FKU - ) shares dropped 1% during mid-day trading on Monday . The company traded as low as $47.74 and last traded at $47.76. Approximately 1,659 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 6,589 shares. The stock had previously closed at $48.23.

First Trust United Kingdom AlphaDEX Fund Trading Down 1.0%

The business has a fifty day moving average price of $46.65 and a 200-day moving average price of $43.59. The stock has a market capitalization of $69.25 million, a PE ratio of 11.78 and a beta of 1.18.

First Trust United Kingdom AlphaDEX Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, June 26th were paid a $0.5288 dividend. This is a boost from First Trust United Kingdom AlphaDEX Fund's previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.4%.

Institutional Investors Weigh In On First Trust United Kingdom AlphaDEX Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC lifted its stake in shares of First Trust United Kingdom AlphaDEX Fund by 8.1% in the 2nd quarter. Jane Street Group LLC now owns 51,499 shares of the company's stock valued at $2,415,000 after acquiring an additional 3,858 shares during the last quarter. NewEdge Advisors LLC bought a new position in First Trust United Kingdom AlphaDEX Fund during the 2nd quarter valued at approximately $34,000. StoneX Group Inc. bought a new position in First Trust United Kingdom AlphaDEX Fund during the 2nd quarter valued at approximately $222,000. First Trust Advisors LP raised its position in First Trust United Kingdom AlphaDEX Fund by 8.8% during the 2nd quarter. First Trust Advisors LP now owns 567,356 shares of the company's stock valued at $26,603,000 after purchasing an additional 45,706 shares during the last quarter. Finally, Rathbones Group PLC raised its position in First Trust United Kingdom AlphaDEX Fund by 8.6% during the 2nd quarter. Rathbones Group PLC now owns 62,683 shares of the company's stock valued at $2,939,000 after purchasing an additional 4,953 shares during the last quarter.

About First Trust United Kingdom AlphaDEX Fund

The First Trust United Kingdom AlphaDEX Fund (FKU) is an exchange-traded fund that is based on the NASDAQ AlphaDEX United Kingdom index. The fund tracks a tiered equal-weighted index of 75 companies selected based on NASDAQs AlphaDEX selection methodology. FKU was launched on Feb 14, 2012 and is managed by First Trust.

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