First Trust Multi Cap Growth AlphaDEX Fund (NASDAQ:FAD) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• FAD shares moved above their 200-day moving average, reaching $180.38 and last trading at $180.32, compared with the $178.60 average.
• The fund reduced its quarterly dividend to $0.0516 per share from $0.0711, implying an annualized dividend of about $0.21 and a 0.1% yield.
• Institutional interest increased, with Bank of America, Envestnet, Royal Bank of Canada and Kestra Advisory Services adding to their positions, while Wedbush Securities acquired a new stake.

First Trust Multi Cap Growth AlphaDEX Fund (NASDAQ:FAD - ) crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $178.60 and traded as high as $180.38. First Trust Multi Cap Growth AlphaDEX Fund shares last traded at $180.32, with a volume of 6,306 shares trading hands.

First Trust Multi Cap Growth AlphaDEX Fund Price Performance

The stock has a market capitalization of $595.06 million, a price-to-earnings ratio of 25.26 and a beta of 1.17. The firm has a fifty day moving average of $182.63 and a 200 day moving average of $178.60.

First Trust Multi Cap Growth AlphaDEX Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were given a dividend of $0.0516 per share. This is a drop from First Trust Multi Cap Growth AlphaDEX Fund's previous quarterly dividend of $0.0711. The ex-dividend date was Thursday, September 24th. This represents a $0.21 dividend on an annualized basis and a dividend yield of 0.1%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE grew its position in shares of First Trust Multi Cap Growth AlphaDEX Fund by 37.3% in the first quarter. Bank of America Corp DE now owns 41,501 shares of the company's stock valued at $6,595,000 after purchasing an additional 11,276 shares during the period. Envestnet Asset Management Inc. raised its stake in First Trust Multi Cap Growth AlphaDEX Fund by 23.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 30,485 shares of the company's stock valued at $6,096,000 after purchasing an additional 5,744 shares during the last quarter. Royal Bank of Canada lifted its holdings in First Trust Multi Cap Growth AlphaDEX Fund by 7.8% in the 1st quarter. Royal Bank of Canada now owns 34,241 shares of the company's stock valued at $5,442,000 after purchasing an additional 2,485 shares in the last quarter. Kestra Advisory Services LLC grew its stake in First Trust Multi Cap Growth AlphaDEX Fund by 253.5% during the 1st quarter. Kestra Advisory Services LLC now owns 31,173 shares of the company's stock valued at $4,954,000 after acquiring an additional 22,355 shares in the last quarter. Finally, Wedbush Securities Inc. acquired a new stake in shares of First Trust Multi Cap Growth AlphaDEX Fund in the third quarter valued at approximately $4,305,000.

About First Trust Multi Cap Growth AlphaDEX Fund

First Trust Multi Cap Growth 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 Multi Cap Growth Index (the Index). The Index is an enhanced index created and administered by Standard & Poor's, which selects stocks from the S&P Composite 1500/Citigroup Growth Index. Standard & Poor's constructs the Index by employing the AlphaDEX stock selection methodology to rank the stocks from the three component indices that comprise the S&P Composite 1500/Citigroup Growth Index, which are the S&P 500/Citigroup Growth Index, the S&P MidCap 400/Citigroup Growth Index and the S&P SmallCap 600/Citigroup Growth Index.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.