First Trust Europe AlphaDEX Fund (NASDAQ:FEP) Stock Short Interest Report for October

Key Points

• Short interest plunged 88.5% in October to 20,315 shares, representing 0.2% of outstanding shares and just 0.5 days to cover.
• Several institutional investors increased their positions, including Bank of America, which raised its stake by 9.0% to 120,815 shares.
• FEP shares rose 0.7% to $56.04, while the quarterly dividend was reduced to $0.3254 from $0.7986, producing a 2.3% annualized yield.

First Trust Europe AlphaDEX Fund (NASDAQ:FEP - ) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 20,315 shares, a decline of 88.5% from the September 30th total of 177,042 shares. Currently, 0.2% of the company's shares are sold short. Based on an average daily volume of 37,836 shares, the days-to-cover ratio is presently 0.5 days.

Hedge Funds Weigh In On First Trust Europe AlphaDEX Fund

A number of large investors have recently made changes to their positions in the company. Bank of America Corp DE raised its position in First Trust Europe AlphaDEX Fund by 9.0% in the 1st quarter. Bank of America Corp DE now owns 120,815 shares of the company's stock worth $6,598,000 after purchasing an additional 9,965 shares during the period. Asset Allocation Strategies LLC lifted its stake in First Trust Europe AlphaDEX Fund by 12.4% in the second quarter. Asset Allocation Strategies LLC now owns 4,150 shares of the company's stock worth $237,000 after purchasing an additional 458 shares during the last quarter. Tucker Asset Management LLC boosted its position in shares of First Trust Europe AlphaDEX Fund by 16.3% during the second quarter. Tucker Asset Management LLC now owns 3,231 shares of the company's stock valued at $184,000 after buying an additional 453 shares during the period. IFP Advisors Inc boosted its position in shares of First Trust Europe AlphaDEX Fund by 3.4% during the second quarter. IFP Advisors Inc now owns 41,236 shares of the company's stock valued at $2,353,000 after buying an additional 1,367 shares during the period. Finally, Baird Financial Group Inc. boosted its position in shares of First Trust Europe AlphaDEX Fund by 4.3% during the second quarter. Baird Financial Group Inc. now owns 23,505 shares of the company's stock valued at $1,341,000 after buying an additional 961 shares during the period.

First Trust Europe AlphaDEX Fund Stock Up 0.7%

FEP traded up $0.40 during trading on Monday, reaching $56.04. The company had a trading volume of 10,758 shares, compared to its average volume of 31,157. The stock has a market cap of $484.75 million, a P/E ratio of -84.91 and a beta of 0.90. The business has a 50 day simple moving average of $58.26 and a 200-day simple moving average of $58.29. First Trust Europe AlphaDEX Fund has a 52 week low of $49.11 and a 52 week high of $61.07.

First Trust Europe AlphaDEX Fund Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were paid a $0.3254 dividend. This is a decrease from First Trust Europe AlphaDEX Fund's previous quarterly dividend of $0.7986. This represents a $1.30 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, September 24th. First Trust Europe AlphaDEX Fund's payout ratio is currently -263.64%.

About First Trust Europe AlphaDEX Fund

The First Trust Europe AlphaDEX Fund (FEP) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Europe index. The fund tracks a tiered equal-weighted index of 200 companies selected from the S&P Europe BMI based on the S&P's AlphaDex selection methodology. FEP was launched on Apr 18, 2011 and is managed by First Trust.

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