Short Interest in First Trust Emerging Markets AlphaDEX Fund (NASDAQ:FEM) Drops By 52.4%

First Trust Emerging Markets AlphaDEX Fund (NASDAQ:FEM - Get Free Report) was the recipient of a significant decrease in short interest in May. As of May 31st, there was short interest totalling 41,100 shares, a decrease of 52.4% from the May 15th total of 86,400 shares. Based on an average daily trading volume, of 62,100 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.2% of the shares of the stock are sold short.

First Trust Emerging Markets AlphaDEX Fund Stock Performance

NASDAQ FEM traded down $0.21 on Tuesday, hitting $24.36. The stock had a trading volume of 27,548 shares, compared to its average volume of 65,443. The firm has a 50-day moving average of $23.24 and a 200-day moving average of $22.73. First Trust Emerging Markets AlphaDEX Fund has a 52-week low of $19.74 and a 52-week high of $24.73. The company has a market capitalization of $412.90 million, a price-to-earnings ratio of 8.45 and a beta of 0.85.

First Trust Emerging Markets AlphaDEX Fund Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 27th were given a $0.0393 dividend. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.65%.

Institutional Investors Weigh In On First Trust Emerging Markets AlphaDEX Fund

Several large investors have recently added to or reduced their stakes in FEM. Bank of America Corp DE increased its holdings in shares of First Trust Emerging Markets AlphaDEX Fund by 64.1% in the 4th quarter. Bank of America Corp DE now owns 1,039,178 shares of the company's stock worth $22,892,000 after buying an additional 405,760 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in First Trust Emerging Markets AlphaDEX Fund during the fourth quarter valued at about $5,916,000. OLD Mission Capital LLC raised its position in First Trust Emerging Markets AlphaDEX Fund by 33.6% during the first quarter. OLD Mission Capital LLC now owns 394,725 shares of the company's stock valued at $9,023,000 after purchasing an additional 99,226 shares in the last quarter. Jane Street Group LLC lifted its stake in First Trust Emerging Markets AlphaDEX Fund by 46.6% during the fourth quarter. Jane Street Group LLC now owns 150,383 shares of the company's stock worth $3,313,000 after purchasing an additional 47,775 shares during the last quarter. Finally, OneAscent Financial Services LLC purchased a new position in shares of First Trust Emerging Markets AlphaDEX Fund in the 4th quarter worth about $810,000.

First Trust Emerging Markets AlphaDEX Fund Company Profile

The First Trust Emerging Markets AlphaDEX Fund (FEM) is an exchange-traded fund that is based on the NASDAQ AlphaDEX EM index. The fund tracks an index of emerging markets companies selected using a quantitative methodology and weighted in tiers. FEM was launched on Apr 18, 2011 and is managed by First Trust.