Short Interest in First Trust Small Cap Core AlphaDEX Fund (NASDAQ:FYX) Rises By 106.4%

Key Points

• Short interest in FYX more than doubled to 47,598 shares as of August 31, up 106.4% from mid-August. Short interest represents 0.5% of shares outstanding, with a days-to-cover ratio of 1.3.
• Several institutional investors recently initiated or increased positions in the ETF, including NBT Bank, Fulcrum Equity Management, and Boston Standard Wealth Management.
• FYX traded at $139.57, within its $103.42–$147.18 one-year range. The fund also raised its quarterly dividend to $0.4369, implying an annualized dividend of $1.75 and a 1.3% yield.

First Trust Small Cap Core AlphaDEX Fund (NASDAQ:FYX - ) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 47,598 shares, an increase of 106.4% from the August 15th total of 23,065 shares. Based on an average trading volume of 37,128 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.5% of the shares of the company are sold short.

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

Hedge funds have recently added to or reduced their stakes in the business. NBT Bank N A NY raised its stake in shares of First Trust Small Cap Core AlphaDEX Fund by 127.4% during the first quarter. NBT Bank N A NY now owns 257 shares of the company's stock valued at $31,000 after acquiring an additional 144 shares during the last quarter. First Bancorp Inc ME bought a new stake in shares of First Trust Small Cap Core AlphaDEX Fund in the second quarter worth $43,000. MCF Advisors LLC acquired a new stake in First Trust Small Cap Core AlphaDEX Fund in the second quarter valued at $79,000. Boston Standard Wealth Management LLC acquired a new position in First Trust Small Cap Core AlphaDEX Fund during the 2nd quarter worth about $233,000. Finally, Fulcrum Equity Management acquired a new position in First Trust Small Cap Core AlphaDEX Fund during the 2nd quarter worth about $247,000.

First Trust Small Cap Core AlphaDEX Fund Price Performance

NASDAQ:FYX traded down $0.04 during trading hours on Monday, reaching $139.57. 12,173 shares of the company were exchanged, compared to its average volume of 32,165. First Trust Small Cap Core AlphaDEX Fund has a 1-year low of $103.42 and a 1-year high of $147.18. The company has a market capitalization of $1.26 billion, a P/E ratio of 13.79 and a beta of 1.05. The business has a 50 day moving average of $142.69 and a 200 day moving average of $134.08.

First Trust Small Cap Core AlphaDEX Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were issued a $0.4369 dividend. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from First Trust Small Cap Core AlphaDEX Fund's previous quarterly dividend of $0.20.

About First Trust Small Cap Core AlphaDEX Fund

The First Trust Small Cap Core AlphaDEX Fund (FYX) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Small Cap Core index. The fund tracks an index of small-cap stocks selected based on quantitatively driven growth and value factors. FYX was launched on May 8, 2007 and is managed by First Trust.

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