First Trust Germany AlphaDEX Fund (NASDAQ:FGM) Shares Shorted: Short Interest Down 43.4% in September

Key Points

• Short interest fell 43.4% to 4,124 shares as of September 15, representing 0.3% of outstanding shares and 3.7 days to cover.
• FGM shares traded at $59.20, below their 50-day and 200-day moving averages, with a market capitalization of approximately $91.8 million.
• The fund reduced its quarterly dividend to $0.1906 per share from $0.8422, implying an annualized yield of about 1.3%; First Trust Advisors also increased its holdings by 52.6%.

First Trust Germany AlphaDEX Fund (NASDAQ:FGM - ) saw a large decrease in short interest in September. As of September 15th, there was short interest totaling 4,124 shares, a decrease of 43.4% from the August 31st total of 7,290 shares. Based on an average daily trading volume, of 1,113 shares, the days-to-cover ratio is currently 3.7 days. Currently, 0.3% of the shares of the stock are sold short.

First Trust Germany AlphaDEX Fund Price Performance

Shares of First Trust Germany AlphaDEX Fund stock traded down $0.55 during trading hours on Wednesday, hitting $59.20. The company's stock had a trading volume of 849 shares, compared to its average volume of 10,834. First Trust Germany AlphaDEX Fund has a 12 month low of $54.50 and a 12 month high of $71.12. The stock has a 50 day moving average of $62.86 and a 200 day moving average of $63.31. The company has a market capitalization of $91.76 million, a PE ratio of 13.97 and a beta of 0.95.

First Trust Germany AlphaDEX Fund Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 24th will be paid a dividend of $0.1906 per share. This is a drop from First Trust Germany AlphaDEX Fund's previous quarterly dividend of $0.8422. This represents a $0.76 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 24th.

Institutional Trading of First Trust Germany AlphaDEX Fund

Hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers purchased a new stake in First Trust Germany AlphaDEX Fund in the first quarter worth about $280,000. Cottonwood Capital Advisors LLC increased its position in shares of First Trust Germany AlphaDEX Fund by 4.8% during the first quarter. Cottonwood Capital Advisors LLC now owns 19,998 shares of the company's stock worth $1,200,000 after acquiring an additional 919 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of First Trust Germany AlphaDEX Fund by 52.6% in the 1st quarter. First Trust Advisors LP now owns 925,098 shares of the company's stock valued at $55,522,000 after buying an additional 318,845 shares in the last quarter.

About First Trust Germany AlphaDEX Fund

The First Trust Germany AlphaDEX Fund (FGM) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Germany index. The fund tracks a tiered equal-weighted index of 40 companies selected from the S&P Germany BMI based on the S&P's AlphaDex selection methodology. FGM was launched on Feb 14, 2012 and is managed by First Trust.

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