First Trust Japan AlphaDEX Fund (NASDAQ:FJP) Sees Large Decrease in Short Interest

Key Points

• Short interest fell sharply: First Trust Japan AlphaDEX Fund’s short interest declined 37.8% to 10,264 shares as of October 15, representing approximately 0.3% of shares outstanding and just 0.2 days to cover.
• Institutional activity was generally positive: Several investment firms increased their holdings, including Gateway Wealth Partners, which nearly doubled its stake, while other institutions initiated new positions.
• Shares traded at $74.01: FJP was below its 50-day moving average of $77.03 and 200-day average of $75.91, with a 12-month trading range of $65.34 to $82.45.

First Trust Japan AlphaDEX Fund (NASDAQ:FJP - ) was the target of a large decline in short interest in October. As of October 15th, there was short interest totaling 10,264 shares, a decline of 37.8% from the September 30th total of 16,507 shares. Approximately 0.3% of the company's stock are short sold. Based on an average daily volume of 46,415 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of First Trust Japan AlphaDEX Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Concurrent Investment Advisors LLC grew its position in First Trust Japan AlphaDEX Fund by 11.4% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 3,169 shares of the company's stock worth $242,000 after purchasing an additional 324 shares in the last quarter. Coppell Advisory Solutions LLC bought a new position in shares of First Trust Japan AlphaDEX Fund during the 2nd quarter worth approximately $27,000. Parallel Advisors LLC bought a new position in shares of First Trust Japan AlphaDEX Fund during the 1st quarter worth approximately $74,000. Concorde Asset Management LLC boosted its stake in shares of First Trust Japan AlphaDEX Fund by 4.3% in the 1st quarter. Concorde Asset Management LLC now owns 26,413 shares of the company's stock worth $1,918,000 after buying an additional 1,086 shares during the last quarter. Finally, Gateway Wealth Partners LLC boosted its stake in shares of First Trust Japan AlphaDEX Fund by 99.1% in the 1st quarter. Gateway Wealth Partners LLC now owns 37,752 shares of the company's stock worth $2,741,000 after buying an additional 18,792 shares during the last quarter.

First Trust Japan AlphaDEX Fund Price Performance

Shares of NASDAQ:FJP traded up $1.26 during midday trading on Monday, hitting $74.01. 4,242 shares of the company's stock were exchanged, compared to its average volume of 12,992. The stock has a 50 day moving average price of $77.03 and a 200-day moving average price of $75.91. The company has a market cap of $270.13 million, a PE ratio of 10.49 and a beta of 0.62. First Trust Japan AlphaDEX Fund has a 12 month low of $65.34 and a 12 month high of $82.45.

About First Trust Japan AlphaDEX Fund

The First Trust Japan AlphaDEX Fund (FJP) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Japan index. The fund tracks a tiered equal-weighted index of Japanese equities selected using both growth and value screens. FJP was launched on Apr 18, 2011 and is managed by First Trust.

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