First Trust Large Cap Core AlphaDEX Fund (NASDAQ:FEX) Sees Large Growth in Short Interest

Key Points

• Short interest in FEX surged 126.6% to 65,336 shares as of August 14, representing 0.6% of shares outstanding and 2.9 days to cover based on average trading volume.
• Shares fell 0.8% to $138.48, with trading volume below average. The ETF has a 12-month range of $111.75 to $142.60 and a market capitalization of approximately $1.59 billion.
• The fund paid a quarterly dividend of $0.2669 per share, equivalent to an annualized $1.07 payout and a 0.8% yield; institutional investors showed mixed activity, including a major stake increase by Ameritas Advisory Services.

First Trust Large Cap Core AlphaDEX Fund (NASDAQ:FEX - ) was the target of a significant growth in short interest in August. As of August 14th, there was short interest totaling 65,336 shares, a growth of 126.6% from the July 30th total of 28,830 shares. Based on an average trading volume of 22,484 shares, the days-to-cover ratio is currently 2.9 days. Currently, 0.6% of the shares of the stock are short sold.

First Trust Large Cap Core AlphaDEX Fund Trading Down 0.8%

Shares of First Trust Large Cap Core AlphaDEX Fund stock traded down $1.07 during mid-day trading on Friday, hitting $138.48. 9,112 shares of the stock were exchanged, compared to its average volume of 22,642. First Trust Large Cap Core AlphaDEX Fund has a twelve month low of $111.75 and a twelve month high of $142.60. The company has a 50-day simple moving average of $138.12 and a 200 day simple moving average of $131.88. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 17.76 and a beta of 0.94.

First Trust Large Cap Core AlphaDEX Fund Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were given a dividend of $0.2669 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $1.07 annualized dividend and a yield of 0.8%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Ameritas Advisory Services LLC grew its stake in First Trust Large Cap Core AlphaDEX Fund by 1,168.7% during the second quarter. Ameritas Advisory Services LLC now owns 60,274 shares of the company's stock worth $8,431,000 after buying an additional 55,523 shares during the period. Semitam Bonam LLC purchased a new position in shares of First Trust Large Cap Core AlphaDEX Fund in the 2nd quarter valued at $210,000. Compass Financial Management LLC purchased a new position in shares of First Trust Large Cap Core AlphaDEX Fund in the 2nd quarter valued at $83,000. Annex Advisory Services LLC lifted its holdings in shares of First Trust Large Cap Core AlphaDEX Fund by 13.2% during the 2nd quarter. Annex Advisory Services LLC now owns 4,415 shares of the company's stock valued at $618,000 after acquiring an additional 515 shares in the last quarter. Finally, Allied Private Wealth LLC acquired a new position in shares of First Trust Large Cap Core AlphaDEX Fund during the 2nd quarter valued at $113,000.

About First Trust Large Cap Core AlphaDEX Fund

First Trust Large Cap Core AlphaDEX Fund (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield of an equity index called the Defined Large Cap Core Index (the Index). The Index is an enhanced index created and administered by Standard & Poor's, which employs the AlphaDEX stock selection methodology to select stocks from the S&P 500 Index. Standard & Poor's constructs the Index by ranking the stocks from the S&P 500 Index on growth factors, including 3, 6 and 12-month price appreciation, sales to price and one-year sales growth, and separately on value factors, including book value to price, cash flow to price and return on assets.

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