First Trust Multi Cap Value AlphaDEX Fund (NASDAQ:FAB) Short Interest Update

Key Points

• Short interest surged 5,191.9% to 9,155 shares as of September 30, up from 173 shares two weeks earlier. Short interest represented approximately 0.6% of shares outstanding, with a 0.9-day days-to-cover ratio.
• FAB shares traded down $0.26 to $100.68, compared with a 52-week range of $83.76 to $108.60. The fund has a $156.05 million market capitalization and a 0.89 beta.
• The fund increased its quarterly dividend to $0.5387 from $0.3468, implying an annualized payout of $2.15 and a 2.1% yield. Several institutional investors, including Citadel Advisors and Envestnet Asset Management, also increased their positions.

First Trust Multi Cap Value AlphaDEX Fund (NASDAQ:FAB - ) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 9,155 shares, a growth of 5,191.9% from the September 15th total of 173 shares. Based on an average daily volume of 10,205 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.6% of the shares of the company are short sold.

First Trust Multi Cap Value AlphaDEX Fund Price Performance

NASDAQ:FAB traded down $0.26 during midday trading on Friday, hitting $100.68. The company's stock had a trading volume of 846 shares, compared to its average volume of 8,646. First Trust Multi Cap Value AlphaDEX Fund has a fifty-two week low of $83.76 and a fifty-two week high of $108.60. The firm's 50 day moving average is $104.70 and its 200-day moving average is $101.16. The firm has a market cap of $156.05 million, a P/E ratio of 11.94 and a beta of 0.89.

First Trust Multi Cap Value AlphaDEX Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were issued a $0.5387 dividend. This is an increase from First Trust Multi Cap Value AlphaDEX Fund's previous quarterly dividend of $0.3468. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $2.15 annualized dividend and a dividend yield of 2.1%.

Institutional Investors Weigh In On First Trust Multi Cap Value AlphaDEX Fund

Several hedge funds have recently added to or reduced their stakes in the business. Citadel Advisors LLC lifted its holdings in shares of First Trust Multi Cap Value AlphaDEX Fund by 3.2% in the 2nd quarter. Citadel Advisors LLC now owns 34,195 shares of the company's stock valued at $3,471,000 after buying an additional 1,056 shares during the period. Avidian Wealth Enterprises LLC purchased a new position in First Trust Multi Cap Value AlphaDEX Fund during the third quarter valued at approximately $725,000. Envestnet Asset Management Inc. lifted its holdings in First Trust Multi Cap Value AlphaDEX Fund by 77.8% in the second quarter. Envestnet Asset Management Inc. now owns 7,271 shares of the company's stock valued at $738,000 after acquiring an additional 3,182 shares during the period. Cetera Investment Advisers boosted its position in First Trust Multi Cap Value AlphaDEX Fund by 3.4% in the 1st quarter. Cetera Investment Advisers now owns 6,867 shares of the company's stock worth $649,000 after purchasing an additional 229 shares in the last quarter. Finally, Kestra Advisory Services LLC grew its stake in shares of First Trust Multi Cap Value AlphaDEX Fund by 25.5% during the 1st quarter. Kestra Advisory Services LLC now owns 2,341 shares of the company's stock worth $221,000 after purchasing an additional 475 shares during the period.

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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