First Trust Small Cap Growth AlphaDEX Fund (NASDAQ:FYC) Sees Large Increase in Short Interest

Key Points

• Short interest in FYC surged 121.3% to 30,950 shares as of August 14, up from 13,987 shares on July 30. Short interest represents 0.3% of shares outstanding, with a days-to-cover ratio of 0.4.
• FYC opened at $120.52, down 1.7%, with a $1.30 billion market capitalization and a 12-month trading range of $85.20 to $127.57.
• The fund recently paid a quarterly dividend of $0.1297 per share, equal to an annualized $0.52 dividend and a 0.4% yield, while several institutional investors increased their holdings during the second quarter.

First Trust Small Cap Growth AlphaDEX Fund (NASDAQ:FYC - ) was the target of a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 30,950 shares, a growth of 121.3% from the July 30th total of 13,987 shares. Based on an average trading volume of 80,826 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.3% of the company's shares are sold short.

First Trust Small Cap Growth AlphaDEX Fund Stock Down 1.7%

First Trust Small Cap Growth AlphaDEX Fund stock opened at $120.52 on Friday. The business's 50-day simple moving average is $121.87 and its 200 day simple moving average is $111.86. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 20.27 and a beta of 1.17. First Trust Small Cap Growth AlphaDEX Fund has a 12-month low of $85.20 and a 12-month high of $127.57.

First Trust Small Cap Growth AlphaDEX Fund Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were given a dividend of $0.1297 per share. The ex-dividend date was Thursday, June 25th. This represents a $0.52 dividend on an annualized basis and a yield of 0.4%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FYC. Creative Planning bought a new stake in shares of First Trust Small Cap Growth AlphaDEX Fund during the second quarter worth approximately $202,000. First Trust Advisors LP boosted its stake in First Trust Small Cap Growth AlphaDEX Fund by 2.8% in the second quarter. First Trust Advisors LP now owns 254,884 shares of the company's stock valued at $20,284,000 after acquiring an additional 7,042 shares during the last quarter. Bank of America Corp DE boosted its stake in First Trust Small Cap Growth AlphaDEX Fund by 92.8% in the second quarter. Bank of America Corp DE now owns 246,143 shares of the company's stock valued at $19,588,000 after acquiring an additional 118,450 shares during the last quarter. Equitable Holdings Inc. boosted its stake in First Trust Small Cap Growth AlphaDEX Fund by 8.9% in the second quarter. Equitable Holdings Inc. now owns 58,012 shares of the company's stock valued at $4,617,000 after acquiring an additional 4,733 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in First Trust Small Cap Growth AlphaDEX Fund by 54.7% during the 2nd quarter. Geneos Wealth Management Inc. now owns 12,956 shares of the company's stock worth $1,031,000 after acquiring an additional 4,579 shares during the period.

First Trust Small Cap Growth AlphaDEX Fund Company Profile

The First Trust Small Cap Growth AlphaDEX Fund (FYC) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Small Cap Growth index. The fund tracks a quant-driven index that select stocks from a small-cap growth universe in an attempt to outperform the market. FYC was launched on Apr 18, 2011 and is managed by First Trust.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source