Short Interest in First Trust Japan AlphaDEX Fund (NASDAQ:FJP) Rises By 58.5%

Key Points

• Short interest in FJP rose 58.5% to 18,218 shares as of August 14, representing 0.5% of shares outstanding and 2.5 days to cover.
• FJP shares opened at $76.94, with a 12-month range of $62.01 to $82.45 and a market capitalization of approximately $261.6 million.
• The fund increased its quarterly dividend to $0.4847, equivalent to an annualized dividend of $1.94 and a 2.5% yield.

First Trust Japan AlphaDEX Fund (NASDAQ:FJP - ) was the target of a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 18,218 shares, an increase of 58.5% from the July 30th total of 11,494 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average daily volume of 7,361 shares, the days-to-cover ratio is presently 2.5 days.

Institutional Trading of First Trust Japan AlphaDEX Fund

Large investors have recently modified their holdings of the business. Sound Income Strategies LLC raised its position in shares of First Trust Japan AlphaDEX Fund by 82.3% during the 1st quarter. Sound Income Strategies LLC now owns 370 shares of the company's stock valued at $28,000 after buying an additional 167 shares in the last quarter. Parallel Advisors LLC purchased a new stake in First Trust Japan AlphaDEX Fund in the first quarter worth approximately $74,000. Tucker Asset Management LLC raised its stake in shares of First Trust Japan AlphaDEX Fund by 17.8% during the second quarter. Tucker Asset Management LLC now owns 2,762 shares of the company's stock worth $211,000 after acquiring an additional 418 shares in the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of First Trust Japan AlphaDEX Fund by 11.4% during the second quarter. Concurrent Investment Advisors LLC now owns 3,169 shares of the company's stock worth $242,000 after acquiring an additional 324 shares in the last quarter. Finally, Mariner LLC bought a new stake in shares of First Trust Japan AlphaDEX Fund in the 4th quarter worth approximately $217,000.

First Trust Japan AlphaDEX Fund Trading Up 0.9%

Shares of FJP stock opened at $76.94 on Tuesday. First Trust Japan AlphaDEX Fund has a 12 month low of $62.01 and a 12 month high of $82.45. The stock has a market capitalization of $261.60 million, a P/E ratio of 10.49 and a beta of 0.60. The firm's 50 day moving average is $75.93 and its 200 day moving average is $76.11.

First Trust Japan AlphaDEX Fund Increases Dividend

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

About First Trust Japan AlphaDEX Fund

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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