First Trust Large Cap Growth AlphaDEX Fund (NASDAQ:FTC) Stock Short Interest Rises 147.7%

Key Points

• Short interest surged 147.7% to 14,689 shares as of September 15, up from 5,929 shares at the end of August. Short interest represented 0.2% of shares outstanding, with a days-to-cover ratio of 1.4.
• FTC shares traded at $178.99, near the $178.66 50-day moving average, with a 12-month range of $147.94 to $194.18 and a market capitalization of approximately $1.33 billion.
• The fund increased its quarterly dividend to $0.0682 per share, equivalent to an annualized $0.27 dividend and a 0.2% yield. Several institutional investors also initiated or expanded positions in the fund.

First Trust Large Cap Growth AlphaDEX Fund (NASDAQ:FTC - ) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 14,689 shares, an increase of 147.7% from the August 31st total of 5,929 shares. Based on an average daily volume of 10,853 shares, the days-to-cover ratio is currently 1.4 days. Currently, 0.2% of the shares of the company are short sold.

First Trust Large Cap Growth AlphaDEX Fund Stock Performance

First Trust Large Cap Growth AlphaDEX Fund stock traded up $1.09 during midday trading on Friday, hitting $178.99. 11,709 shares of the company's stock were exchanged, compared to its average volume of 17,990. First Trust Large Cap Growth AlphaDEX Fund has a 12-month low of $147.94 and a 12-month high of $194.18. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 28.68 and a beta of 1.14. The firm's 50 day simple moving average is $178.66 and its 200 day simple moving average is $175.50.

First Trust Large Cap Growth AlphaDEX Fund Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th will be paid a dividend of $0.0682 per share. This represents a $0.27 annualized dividend and a dividend yield of 0.2%. This is a positive change from First Trust Large Cap Growth AlphaDEX Fund's previous quarterly dividend of $0.0419. The ex-dividend date is Thursday, September 24th.

Hedge Funds Weigh In On First Trust Large Cap Growth AlphaDEX Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. QRG Capital Management Inc. purchased a new stake in First Trust Large Cap Growth AlphaDEX Fund during the 1st quarter valued at approximately $306,000. Kestra Advisory Services LLC grew its stake in shares of First Trust Large Cap Growth AlphaDEX Fund by 1.8% in the 1st quarter. Kestra Advisory Services LLC now owns 11,470 shares of the company's stock valued at $1,768,000 after purchasing an additional 206 shares during the last quarter. Independent Financial Group LLC purchased a new position in shares of First Trust Large Cap Growth AlphaDEX Fund in the 1st quarter valued at approximately $863,000. Clearwater Capital Advisors LLC increased its holdings in shares of First Trust Large Cap Growth AlphaDEX Fund by 2.1% in the first quarter. Clearwater Capital Advisors LLC now owns 5,874 shares of the company's stock valued at $905,000 after purchasing an additional 120 shares during the period. Finally, Parallel Advisors LLC acquired a new position in shares of First Trust Large Cap Growth AlphaDEX Fund in the first quarter valued at approximately $443,000.

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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