First Trust Large Cap Growth AlphaDEX Fund (NASDAQ:FTC) Short Interest Down 56.9% in August

Key Points

• Short interest fell 56.9% in August to 5,929 shares, representing about 0.1% of FTC’s shares outstanding and a short-interest ratio of 0.3 days.
• Institutional investors increased their positions during the second quarter, including Ameriprise Financial, which boosted its stake by 502.2%, and Raymond James Financial, which raised holdings by 37.8%.
• FTC shares opened at $175.90, up 1.3%, while trading between a 52-week range of $147.94 to $194.18. The fund’s annualized dividend is $0.17, yielding approximately 0.1%.

First Trust Large Cap Growth AlphaDEX Fund (NASDAQ:FTC - ) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 5,929 shares, a drop of 56.9% from the August 15th total of 13,758 shares. Based on an average daily trading volume, of 18,258 shares, the short-interest ratio is currently 0.3 days. Approximately 0.1% of the shares of the company are sold short.

Institutional Trading of First Trust Large Cap Growth AlphaDEX Fund

Institutional investors and hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC lifted its position in First Trust Large Cap Growth AlphaDEX Fund by 55.5% in the second quarter. NewEdge Advisors LLC now owns 4,440 shares of the company's stock worth $670,000 after purchasing an additional 1,584 shares during the period. Raymond James Financial Inc. increased its holdings in First Trust Large Cap Growth AlphaDEX Fund by 37.8% in the 2nd quarter. Raymond James Financial Inc. now owns 268,160 shares of the company's stock valued at $40,484,000 after buying an additional 73,618 shares during the period. Ameriprise Financial Inc. increased its holdings in First Trust Large Cap Growth AlphaDEX Fund by 502.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 22,650 shares of the company's stock valued at $3,419,000 after buying an additional 18,889 shares during the period. Bank of America Corp DE raised its stake in shares of First Trust Large Cap Growth AlphaDEX Fund by 2.8% in the 2nd quarter. Bank of America Corp DE now owns 154,077 shares of the company's stock valued at $23,261,000 after buying an additional 4,127 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its stake in shares of First Trust Large Cap Growth AlphaDEX Fund by 33.0% in the 2nd quarter. Benjamin Edwards Inc. now owns 61,314 shares of the company's stock valued at $9,257,000 after buying an additional 15,217 shares in the last quarter.

First Trust Large Cap Growth AlphaDEX Fund Stock Up 1.3%

Shares of NASDAQ:FTC opened at $175.90 on Friday. First Trust Large Cap Growth AlphaDEX Fund has a fifty-two week low of $147.94 and a fifty-two week high of $194.18. The company has a market cap of $1.32 billion, a PE ratio of 28.68 and a beta of 1.14. The company's 50-day moving average price is $179.79 and its 200 day moving average price is $174.55.

First Trust Large Cap Growth AlphaDEX Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were given a $0.0419 dividend. The ex-dividend date was Thursday, June 25th. This represents a $0.17 dividend on an annualized basis and a dividend yield of 0.1%.

First Trust Large Cap Growth AlphaDEX Fund Company Profile

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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