First Trust Japan AlphaDEX Fund (NASDAQ:FJP) Trading Up 0.8% - Here's Why

Key Points

• FJP shares rose 0.8% to $77.16 during Thursday trading, with volume approximately 40% below its average session volume.
• First Trust Japan AlphaDEX Fund increased its quarterly dividend to $0.4847 from $0.11, representing an annualized payout of $1.94 and a 2.5% yield.
• Several institutional investors recently increased or initiated positions in FJP, an ETF tracking a growth- and value-screened, equal-weighted index of Japanese equities.

First Trust Japan AlphaDEX Fund (NASDAQ:FJP - ) shares were up 0.8% during trading on Thursday . The stock traded as high as $77.65 and last traded at $77.16. Approximately 6,809 shares were traded during trading, a decline of 40% from the average session volume of 11,279 shares. The stock had previously closed at $76.54.

First Trust Japan AlphaDEX Fund Stock Performance

The stock's 50 day simple moving average is $76.03 and its 200-day simple moving average is $76.14. The firm has a market cap of $262.34 million, a price-to-earnings ratio of 10.49 and a beta of 0.60.

First Trust Japan AlphaDEX Fund Increases Dividend

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

Institutional Investors Weigh In On First Trust Japan AlphaDEX Fund

Hedge funds have recently added to or reduced their stakes in the business. Sound Income Strategies LLC boosted its stake in shares of First Trust Japan AlphaDEX Fund by 82.3% in the first quarter. Sound Income Strategies LLC now owns 370 shares of the company's stock worth $28,000 after buying an additional 167 shares during the last quarter. Parallel Advisors LLC acquired a new stake in First Trust Japan AlphaDEX Fund in the 1st quarter valued at $74,000. Tucker Asset Management LLC grew its position in shares of 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 purchasing an additional 418 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in First Trust Japan AlphaDEX Fund by 11.4% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 3,169 shares of the company's stock worth $242,000 after buying an additional 324 shares during the last quarter. Finally, Mariner LLC acquired a new stake in shares of First Trust Japan AlphaDEX Fund in the fourth quarter worth approximately $217,000.

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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