First Trust Multi Cap Value AlphaDEX Fund (NASDAQ:FAB) Stock Short Interest Declines 92.8%

Key Points

• Short interest in FAB plunged 92.8% to 173 shares as of September 15, down from 2,388 shares at the end of August. Short interest represented approximately 0.0% of shares outstanding, with a days-to-cover ratio of 0.0.
• FAB shares traded at $100.28, down $0.96 during the reported session, with a market capitalization of approximately $160.45 million and a 52-week trading range of $83.76 to $108.60.
• The fund increased its quarterly dividend to $0.5387 per share from $0.3468, equivalent to an annualized dividend of about $2.15 and a 2.1% yield. Several institutional investors also increased or initiated positions in FAB.

First Trust Multi Cap Value AlphaDEX Fund (NASDAQ:FAB - ) was the recipient of a significant decrease in short interest in September. As of September 15th, there was short interest totaling 173 shares, a decrease of 92.8% from the August 31st total of 2,388 shares. Based on an average trading volume of 29,220 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.0% of the shares of the company are sold short.

First Trust Multi Cap Value AlphaDEX Fund Price Performance

FAB stock traded down $0.96 during trading hours on Thursday, reaching $100.28. The stock had a trading volume of 3,364 shares, compared to its average volume of 8,465. The stock has a 50-day simple moving average of $105.68 and a 200 day simple moving average of $100.72. 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 stock has a market capitalization of $160.45 million, a PE ratio of 11.94 and a beta of 0.87.

First Trust Multi Cap Value AlphaDEX Fund Increases Dividend

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FAB. Envestnet Asset Management Inc. boosted its holdings in First Trust Multi Cap Value AlphaDEX Fund by 77.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 7,271 shares of the company's stock valued at $738,000 after purchasing an additional 3,182 shares during the period. Citadel Advisors LLC increased its holdings in shares of First Trust Multi Cap Value AlphaDEX Fund by 3.2% during the second quarter. Citadel Advisors LLC now owns 34,195 shares of the company's stock worth $3,471,000 after purchasing an additional 1,056 shares during the period. Centaurus Financial Inc. acquired a new stake in shares of First Trust Multi Cap Value AlphaDEX Fund in the first quarter valued at approximately $105,000. Cetera Investment Advisers raised its position in shares of First Trust Multi Cap Value AlphaDEX Fund by 3.4% in the first quarter. Cetera Investment Advisers now owns 6,867 shares of the company's stock valued at $649,000 after buying an additional 229 shares in the last quarter. Finally, Anchor Investment Management LLC bought a new stake in shares of First Trust Multi Cap Value AlphaDEX Fund in the first quarter valued at approximately $33,000.

About First Trust Multi Cap Value AlphaDEX Fund

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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