Short Interest in First Trust Emerging Markets AlphaDEX Fund (NASDAQ:FEM) Grows By 790.7%

Key Points

• Short interest in First Trust Emerging Markets AlphaDEX Fund surged by 790.7% to 864,569 shares as of March 31, equal to about 4.0% of shares short and a days-to-cover ratio of 4.2.
• FEM traded at $32.12 on Friday with above-average volume; the fund has a market cap of $697 million, a P/E of 9.20, a beta of 0.58, and a 52-week range of $20.95–$32.98.
• The fund paid a quarterly dividend of $0.0334 (annualized $0.13, a 0.4% yield), and several hedge funds and institutions made modest purchases or increased positions recently.

First Trust Emerging Markets AlphaDEX Fund (NASDAQ:FEM - ) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 864,569 shares, an increase of 790.7% from the March 15th total of 97,065 shares. Currently, 4.0% of the shares of the stock are short sold. Based on an average daily volume of 207,013 shares, the days-to-cover ratio is currently 4.2 days.

First Trust Emerging Markets AlphaDEX Fund Stock Performance

FEM stock traded up $0.25 during midday trading on Friday, hitting $32.12. 247,056 shares of the stock were exchanged, compared to its average volume of 156,336. The stock's 50-day moving average price is $30.25 and its 200-day moving average price is $28.41. The stock has a market cap of $697.00 million, a price-to-earnings ratio of 9.20 and a beta of 0.58. First Trust Emerging Markets AlphaDEX Fund has a fifty-two week low of $20.95 and a fifty-two week high of $32.98.

First Trust Emerging Markets AlphaDEX Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were issued a dividend of $0.0334 per share. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $0.13 annualized dividend and a yield of 0.4%.

Hedge Funds Weigh In On First Trust Emerging Markets AlphaDEX Fund

Several hedge funds and other institutional investors have recently bought and sold shares of FEM. Smartleaf Asset Management LLC raised its holdings in First Trust Emerging Markets AlphaDEX Fund by 371.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 939 shares of the company's stock worth $26,000 after purchasing an additional 740 shares during the last quarter. Sound Income Strategies LLC purchased a new position in First Trust Emerging Markets AlphaDEX Fund during the fourth quarter worth $45,000. Geneos Wealth Management Inc. increased its position in First Trust Emerging Markets AlphaDEX Fund by 26.8% during the second quarter. Geneos Wealth Management Inc. now owns 1,930 shares of the company's stock worth $47,000 after buying an additional 408 shares in the last quarter. Rossby Financial LCC increased its position in First Trust Emerging Markets AlphaDEX Fund by 34.7% during the third quarter. Rossby Financial LCC now owns 2,250 shares of the company's stock worth $61,000 after buying an additional 580 shares in the last quarter. Finally, MidFirst Bank purchased a new position in First Trust Emerging Markets AlphaDEX Fund during the fourth quarter worth $63,000.

About First Trust Emerging Markets AlphaDEX Fund

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.

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