First Trust Multi Cap Value AlphaDEX Fund (NASDAQ:FAB) Sees Large Drop in Short Interest

Key Points

• Short interest plunged 90% to 915 shares as of October 15, representing 0.1% of FAB’s outstanding shares and just 0.1 days to cover.
• Institutional activity was generally positive, with Envestnet Asset Management increasing its position by 77.8% and Kestra Advisory Services adding 25.5%; several firms also initiated new stakes.
• FAB shares recently traded at $105.13, near their 12-month high, while the fund raised its quarterly dividend to $0.5387, implying a 2.0% annualized yield.

First Trust Multi Cap Value AlphaDEX Fund (NASDAQ:FAB - ) was the recipient of a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 915 shares, a drop of 90.0% from the September 30th total of 9,155 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 6,901 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FAB. Anchor Investment Management LLC acquired a new stake in shares of First Trust Multi Cap Value AlphaDEX Fund during the first quarter worth $33,000. Centaurus Financial Inc. acquired a new position in First Trust Multi Cap Value AlphaDEX Fund in the first quarter valued at about $105,000. Kestra Advisory Services LLC boosted its holdings in First Trust Multi Cap Value AlphaDEX Fund by 25.5% during the first quarter. Kestra Advisory Services LLC now owns 2,341 shares of the company's stock worth $221,000 after buying an additional 475 shares during the last quarter. Cetera Investment Advisers boosted its holdings in First Trust Multi Cap Value AlphaDEX Fund by 3.4% during the first quarter. Cetera Investment Advisers now owns 6,867 shares of the company's stock worth $649,000 after buying an additional 229 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of First Trust Multi Cap Value AlphaDEX Fund by 77.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 7,271 shares of the company's stock worth $738,000 after buying an additional 3,182 shares during the period.

First Trust Multi Cap Value AlphaDEX Fund Stock Performance

Shares of FAB stock traded down $0.03 during trading hours on Monday, hitting $105.13. The company had a trading volume of 729 shares, compared to its average volume of 8,301. First Trust Multi Cap Value AlphaDEX Fund has a 12 month low of $83.76 and a 12 month high of $108.60. The firm has a market capitalization of $162.95 million, a price-to-earnings ratio of 11.94 and a beta of 0.89. The firm's fifty day moving average is $103.82 and its 200 day moving average is $101.81.

First Trust Multi Cap Value AlphaDEX Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th were given a $0.5387 dividend. This represents a $2.15 annualized dividend and a yield of 2.0%. The ex-dividend date was Thursday, September 24th. This is a boost from First Trust Multi Cap Value AlphaDEX Fund's previous quarterly dividend of $0.3468.

First Trust Multi Cap Value AlphaDEX Fund Company Profile

The First Trust Multi Cap Value AlphaDEX Fund (FAB) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Multi Cap Value index. The fund tracks an index that uses fundamental factors to select and weight value stocks from the Nasdaq US Select Indices. FAB was launched on May 8, 2007 and is managed by First Trust.

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