First Trust Small Cap Core AlphaDEX Fund (NASDAQ:FYX) Sees Large Volume Increase - Here's Why

Key Points

• FYX trading volume surged 304% to 128,902 shares, while the ETF traded at $142.80, down 0.8% from its prior close.
• First Trust increased its quarterly dividend to $0.4369 per share, or $1.75 annualized, representing a 1.2% yield and a rise from the previous $0.20 payout.
• Several major institutions expanded their positions, including UBS Group, which raised its stake by 35.7%, and Concurrent Investment Advisors, which increased holdings by 25.8%.

Shares of First Trust Small Cap Core AlphaDEX Fund (NASDAQ:FYX - ) saw strong trading volume on Friday . 128,902 shares were traded during mid-day trading, an increase of 304% from the previous session's volume of 31,931 shares.The stock last traded at $142.80 and had previously closed at $143.62.

First Trust Small Cap Core AlphaDEX Fund Stock Down 0.8%

The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 13.79 and a beta of 1.06. The stock has a 50 day moving average price of $142.77 and a 200 day moving average price of $132.77.

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 dividend of $0.4369 per share. This represents a $1.75 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, June 25th. This is a positive change from First Trust Small Cap Core AlphaDEX Fund's previous quarterly dividend of $0.20.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FYX. Royal Bank of Canada increased its stake in shares of First Trust Small Cap Core AlphaDEX Fund by 17.2% in the 1st quarter. Royal Bank of Canada now owns 708,400 shares of the company's stock valued at $84,550,000 after acquiring an additional 103,921 shares in the last quarter. Morgan Stanley grew its holdings in First Trust Small Cap Core AlphaDEX Fund by 6.8% in the fourth quarter. Morgan Stanley now owns 667,395 shares of the company's stock worth $75,510,000 after purchasing an additional 42,502 shares during the period. UBS Group AG increased its stake in First Trust Small Cap Core AlphaDEX Fund by 35.7% in the third quarter. UBS Group AG now owns 291,171 shares of the company's stock valued at $31,732,000 after purchasing an additional 76,615 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in First Trust Small Cap Core AlphaDEX Fund by 6.1% in the first quarter. Janney Montgomery Scott LLC now owns 253,525 shares of the company's stock valued at $30,259,000 after purchasing an additional 14,562 shares in the last quarter. Finally, Concurrent Investment Advisors LLC raised its holdings in shares of First Trust Small Cap Core AlphaDEX Fund by 25.8% during the second quarter. Concurrent Investment Advisors LLC now owns 107,601 shares of the company's stock valued at $15,526,000 after purchasing an additional 22,084 shares during the period.

First Trust Small Cap Core AlphaDEX Fund Company Profile

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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