Short Interest in First Trust Japan AlphaDEX Fund (NASDAQ:FJP) Drops By 41.5%

Key Points

• Short interest in FJP fell 41.5% to 10,657 shares as of August 31, down from 18,218 shares on August 15. Short interest represents approximately 0.3% of shares outstanding, with a days-to-cover ratio of 1.3.
• FJP shares traded at $78.14, with a market capitalization of $239.11 million. The ETF’s 52-week trading range is $62.01 to $82.45.
• The fund increased its quarterly dividend to $0.4847 per share, equivalent to $1.94 annually and a 2.5% yield; several institutional investors also increased or initiated positions in FJP.

First Trust Japan AlphaDEX Fund (NASDAQ:FJP - ) was the target of a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 10,657 shares, a decrease of 41.5% from the August 15th total of 18,218 shares. Based on an average daily trading volume, of 8,460 shares, the days-to-cover ratio is currently 1.3 days. Approximately 0.3% of the shares of the stock are short sold.

First Trust Japan AlphaDEX Fund Price Performance

FJP stock traded up $0.71 during midday trading on Wednesday, reaching $78.14. 7,158 shares of the stock were exchanged, compared to its average volume of 11,155. The stock has a market capitalization of $239.11 million, a PE ratio of 10.49 and a beta of 0.60. First Trust Japan AlphaDEX Fund has a 52 week low of $62.01 and a 52 week high of $82.45. The company has a fifty day moving average price of $76.22 and a 200 day moving average price of $75.85.

First Trust Japan AlphaDEX Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were paid a $0.4847 dividend. This is a positive change from First Trust Japan AlphaDEX Fund's previous quarterly dividend of $0.11. This represents a $1.94 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, June 25th.

Institutional Investors Weigh In On First Trust Japan AlphaDEX Fund

A number of institutional investors have recently made changes to their positions in FJP. Citadel Advisors LLC raised its position in shares of First Trust Japan AlphaDEX Fund by 54.9% during the second quarter. Citadel Advisors LLC now owns 28,635 shares of the company's stock worth $2,186,000 after acquiring an additional 10,144 shares during the last quarter. Tucker Asset Management LLC boosted its holdings in First Trust Japan AlphaDEX Fund by 17.8% in the second quarter. Tucker Asset Management LLC now owns 2,762 shares of the company's stock valued at $211,000 after acquiring an additional 418 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in First Trust Japan AlphaDEX Fund by 11.4% in the second quarter. Concurrent Investment Advisors LLC now owns 3,169 shares of the company's stock valued at $242,000 after acquiring an additional 324 shares during the last quarter. Coppell Advisory Solutions LLC acquired a new stake in First Trust Japan AlphaDEX Fund during the 2nd quarter valued at approximately $27,000. Finally, Parallel Advisors LLC acquired a new stake in First Trust Japan AlphaDEX Fund during the 1st quarter valued at approximately $74,000.

First Trust Japan AlphaDEX Fund Company Profile

The First Trust Japan AlphaDEX Fund (FJP) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Japan index. The fund tracks a tiered equal-weighted index of Japanese equities selected using both growth and value screens. FJP was launched on Apr 18, 2011 and is managed by First Trust.

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