First Trust Small Cap Value AlphaDEX Fund (NASDAQ:FYT) Shares Shorted: Short Interest Down 37.3% in September

Key Points

• Short interest fell 37.3% to 17,360 shares as of September 15, representing 0.6% of outstanding shares and a days-to-cover ratio of 1.0.
• FYT shares traded down 0.1% to $66.78, with a market capitalization of approximately $180.3 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 an annualized $1.86 payout and a 2.8% yield; several institutional investors also added to their positions.

First Trust Small Cap Value AlphaDEX Fund (NASDAQ:FYT - ) was the recipient of a large drop in short interest in September. As of September 15th, there was short interest totaling 17,360 shares, a drop of 37.3% from the August 31st total of 27,691 shares. Based on an average daily volume of 17,939 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.6% of the company's stock are sold short.

First Trust Small Cap Value AlphaDEX Fund Trading Down 0.1%

FYT stock traded down $0.07 during midday trading on Thursday, hitting $66.78. 8,426 shares of the company's stock were exchanged, compared to its average volume of 17,153. First Trust Small Cap Value AlphaDEX Fund has a 12-month low of $52.47 and a 12-month high of $73.77. The firm has a 50 day moving average price of $71.31 and a 200-day moving average price of $67.92. The stock has a market capitalization of $180.30 million, a price-to-earnings ratio of 10.91 and a beta of 0.97.

First Trust Small Cap Value AlphaDEX Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were given a dividend of $0.4655 per share. The ex-dividend date of this dividend was Thursday, September 24th. This is an increase from First Trust Small Cap Value AlphaDEX Fund's previous quarterly dividend of $0.2980. This represents a $1.86 dividend on an annualized basis and a dividend yield of 2.8%.

Institutional Trading of First Trust Small Cap Value AlphaDEX Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers boosted its stake in First Trust Small Cap Value AlphaDEX Fund by 7.6% during the 1st quarter. Cetera Investment Advisers now owns 60,279 shares of the company's stock valued at $3,725,000 after acquiring an additional 4,268 shares during the last quarter. Kestra Advisory Services LLC increased its position in shares of First Trust Small Cap Value AlphaDEX Fund by 3.8% in the 1st quarter. Kestra Advisory Services LLC now owns 33,520 shares of the company's stock worth $2,071,000 after purchasing an additional 1,240 shares during the last quarter. Gateway Wealth Partners LLC increased its position in shares of First Trust Small Cap Value AlphaDEX Fund by 102.8% in the 1st quarter. Gateway Wealth Partners LLC now owns 24,628 shares of the company's stock worth $1,522,000 after purchasing an additional 12,487 shares during the last quarter. Nwam LLC acquired a new stake in shares of First Trust Small Cap Value AlphaDEX Fund in the 1st quarter valued at about $1,241,000. Finally, Baird Financial Group Inc. raised its stake in shares of First Trust Small Cap Value AlphaDEX Fund by 7.5% in the 2nd 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 in the last quarter.

About First Trust Small Cap Value AlphaDEX Fund

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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