First Trust Large Cap Core AlphaDEX Fund (NASDAQ:FEX) Shares Climb 0.9% - Here's What Happened

Key Points

• FEX shares rose 0.9% to $136.17, with trading volume down 45% from its average; the fund has a $1.57 billion market cap and a beta of 0.94.
• The fund increased its quarterly dividend to $0.4077, equivalent to $1.63 annually and a 1.2% yield.
• Institutional investors generally increased their positions, led by Envestnet Asset Management’s 44.1% increase and Ameritas Advisory Services’ 1,168.7% increase.

First Trust Large Cap Core AlphaDEX Fund (NASDAQ:FEX - ) shares were up 0.9% during trading on Thursday. The stock traded as high as $136.19 and last traded at $136.17. Approximately 11,862 shares traded hands during trading, a decline of 45% from the average daily volume of 21,677 shares. The stock had previously closed at $134.90.

First Trust Large Cap Core AlphaDEX Fund Stock Performance

The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 17.76 and a beta of 0.94. The company has a 50-day simple moving average of $137.00 and a two-hundred day simple moving average of $134.55.

First Trust Large Cap Core AlphaDEX Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th were issued a $0.4077 dividend. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $1.63 dividend on an annualized basis and a yield of 1.2%. This is a positive change from First Trust Large Cap Core AlphaDEX Fund's previous quarterly dividend of $0.2669.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its position in First Trust Large Cap Core AlphaDEX Fund by 0.9% during the first quarter. Janney Montgomery Scott LLC now owns 511,453 shares of the company's stock worth $62,360,000 after purchasing an additional 4,338 shares during the period. Bank of America Corp DE increased its stake in First Trust Large Cap Core AlphaDEX Fund by 3.0% in the first quarter. Bank of America Corp DE now owns 234,821 shares of the company's stock valued at $28,631,000 after acquiring an additional 6,936 shares during the last quarter. Cetera Investment Advisers raised its position in First Trust Large Cap Core AlphaDEX Fund by 3.0% during the first quarter. Cetera Investment Advisers now owns 118,123 shares of the company's stock valued at $14,402,000 after purchasing an additional 3,454 shares in the last quarter. Envestnet Asset Management Inc. raised its position in First Trust Large Cap Core AlphaDEX Fund by 44.1% during the second quarter. Envestnet Asset Management Inc. now owns 86,559 shares of the company's stock valued at $12,107,000 after purchasing an additional 26,490 shares in the last quarter. Finally, Ameritas Advisory Services LLC raised its position in First Trust Large Cap Core AlphaDEX Fund by 1,168.7% during the second quarter. Ameritas Advisory Services LLC now owns 60,274 shares of the company's stock valued at $8,431,000 after purchasing an additional 55,523 shares in the last quarter.

First Trust Large Cap Core AlphaDEX Fund Company Profile

First Trust Large Cap Core AlphaDEX Fund (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield of an equity index called the Defined Large Cap Core Index (the Index). The Index is an enhanced index created and administered by Standard & Poor's, which employs the AlphaDEX stock selection methodology to select stocks from the S&P 500 Index. Standard & Poor's constructs the Index by ranking the stocks from the S&P 500 Index on growth factors, including 3, 6 and 12-month price appreciation, sales to price and one-year sales growth, and separately on value factors, including book value to price, cash flow to price and return on assets.

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