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

Key Points

• Short interest surged 260.6% to 9,678 shares as of October 15, though only 0.1% of FTC’s shares were sold short and the short-interest ratio remained low at 0.6 days.
• FTC shares rose 0.4% to $175.92, with a market capitalization of approximately $1.32 billion and a 12-month trading range of $147.94 to $194.18.
• The fund increased its quarterly dividend to $0.0682 per share, up from $0.0419, representing an annualized dividend of about $0.27 and a 0.2% yield; several institutional investors also initiated or expanded positions.

First Trust Large Cap Growth AlphaDEX Fund (NASDAQ:FTC - ) was the recipient of a significant increase in short interest in October. As of October 15th, there was short interest totaling 9,678 shares, an increase of 260.6% from the September 30th total of 2,684 shares. Based on an average daily volume of 16,091 shares, the short-interest ratio is presently 0.6 days. Currently, 0.1% of the shares of the stock are sold short.

First Trust Large Cap Growth AlphaDEX Fund Stock Up 0.4%

NASDAQ FTC traded up $0.74 on Wednesday, reaching $175.92. 9,385 shares of the stock traded hands, compared to its average volume of 17,811. First Trust Large Cap Growth AlphaDEX Fund has a 12 month low of $147.94 and a 12 month high of $194.18. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 28.68 and a beta of 1.13. The firm's fifty day simple moving average is $176.99 and its 200 day simple moving average is $173.24.

First Trust Large Cap Growth AlphaDEX Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were paid a dividend of $0.0682 per share. This is an increase from First Trust Large Cap Growth AlphaDEX Fund's previous quarterly dividend of $0.0419. This represents a $0.27 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Thursday, September 24th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FTC. International Assets Investment Management LLC boosted its position in shares of First Trust Large Cap Growth AlphaDEX Fund by 874.9% during the 3rd quarter. International Assets Investment Management LLC now owns 18,737 shares of the company's stock valued at $3,324,000 after purchasing an additional 16,815 shares in the last quarter. Founders Financial Securities LLC acquired a new position in shares of First Trust Large Cap Growth AlphaDEX Fund in the 3rd quarter worth approximately $216,000. D.A. Davidson & CO. acquired a new position in shares of First Trust Large Cap Growth AlphaDEX Fund in the 3rd quarter worth approximately $6,563,000. Oppenheimer & Co. Inc. bought a new stake in shares of First Trust Large Cap Growth AlphaDEX Fund in the 3rd quarter worth approximately $1,574,000. Finally, Kingswood Wealth Advisors LLC raised its holdings in shares of First Trust Large Cap Growth AlphaDEX Fund by 5.4% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 1,904 shares of the company's stock worth $338,000 after purchasing an additional 98 shares in the last quarter.

About First Trust Large Cap Growth AlphaDEX Fund

First Trust Large Cap Growth AlphaDEX Fund (the Fund), formerly First Trust Large Cap Growth Opportunities AlphaDEX Fund, is an exchange-traded fund. The investment objective of the Fund is to seek investment results that correspond generally to the price and yield of an equity index called the Defined Large Cap Growth 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 Growth Index.

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