First Trust Small Cap Value AlphaDEX Fund (NASDAQ:FYT) Sees Significant Decrease in Short Interest

Key Points

• Short interest fell 37.3% to 10,878 shares as of September 30, representing approximately 0.4% of FYT’s shares outstanding and 1.2 days to cover.
• FYT opened at $68.61, with a market capitalization of $171.53 million and a 12-month trading range of $52.47 to $73.77.
• The fund increased its quarterly dividend to $0.4655 per share, equivalent to $1.86 annually and a 2.7% yield; several institutional investors also increased their holdings.

First Trust Small Cap Value AlphaDEX Fund (NASDAQ:FYT - ) was the recipient of a large decrease in short interest during the month of September. As of September 30th, there was short interest totaling 10,878 shares, a decrease of 37.3% from the September 15th total of 17,360 shares. Based on an average trading volume of 9,340 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.4% of the company's stock are sold short.

First Trust Small Cap Value AlphaDEX Fund Stock Up 2.0%

NASDAQ FYT opened at $68.61 on Friday. The firm's 50 day moving average is $70.28 and its 200-day moving average is $68.45. The company has a market capitalization of $171.53 million, a PE ratio of 10.91 and a beta of 0.99. First Trust Small Cap Value AlphaDEX Fund has a 12-month low of $52.47 and a 12-month high of $73.77.

First Trust Small Cap Value AlphaDEX Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were given a $0.4655 dividend. This represents a $1.86 dividend on an annualized basis and a yield of 2.7%. This is an increase from First Trust Small Cap Value AlphaDEX Fund's previous quarterly dividend of $0.2980. The ex-dividend date of this dividend was Thursday, September 24th.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Western Wealth Management LLC bought a new position in shares of First Trust Small Cap Value AlphaDEX Fund in the 1st quarter valued at about $60,000. Janney Montgomery Scott LLC raised its holdings in First Trust Small Cap Value AlphaDEX Fund by 5.5% during the first quarter. Janney Montgomery Scott LLC now owns 3,734 shares of the company's stock worth $231,000 after acquiring an additional 196 shares in the last quarter. Baird Financial Group Inc. boosted its position in First Trust Small Cap Value AlphaDEX Fund by 7.5% during the second quarter. Baird Financial Group Inc. now owns 7,164 shares of the company's stock valued at $500,000 after purchasing an additional 500 shares during the last quarter. Nwam LLC acquired a new position in First Trust Small Cap Value AlphaDEX Fund during the first quarter valued at approximately $1,241,000. Finally, Gateway Wealth Partners LLC boosted its position in First Trust Small Cap Value AlphaDEX Fund by 102.8% during the first quarter. Gateway Wealth Partners LLC now owns 24,628 shares of the company's stock valued at $1,522,000 after purchasing an additional 12,487 shares during the last quarter.

First Trust Small Cap Value AlphaDEX Fund Company Profile

The First Trust Small Cap Value AlphaDEX Fund (FYT) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Small Cap Value index. The fund tracks an index of securities pulled from the NASDAQ US 700 Small Cap Index that are rescreened and weighted based on a tiered process. FYT was launched on Apr 18, 2011 and is managed by First Trust.

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