Short Interest in First Trust Europe AlphaDEX Fund (NASDAQ:FEP) Declines By 18.3%

Key Points

• Short interest fell 18.3% in March to 74,152 shares (about 1.0% of the stock) and the days-to-cover ratio is 1.4 based on average daily volume.
• The fund declared a quarterly dividend of $0.0762 (annualized $0.30, ~0.6% yield), with an ex-dividend date of March 26 and payment on March 31.
• Shares traded up 0.4% to $52.51; the fund has a market cap of $409.6M, a 12‑month range of $33.02–$59.39, and a negative P/E of -79.56.

First Trust Europe AlphaDEX Fund (NASDAQ:FEP - ) was the target of a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 74,152 shares, a decrease of 18.3% from the February 26th total of 90,810 shares. Based on an average daily volume of 52,947 shares, the days-to-cover ratio is currently 1.4 days. Approximately 1.0% of the company's stock are short sold.

Institutional Trading of First Trust Europe AlphaDEX Fund

Several hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its stake in First Trust Europe AlphaDEX Fund by 305.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 474 shares of the company's stock valued at $26,000 after purchasing an additional 357 shares during the period. CX Institutional purchased a new stake in First Trust Europe AlphaDEX Fund in the 3rd quarter worth about $51,000. NewEdge Advisors LLC purchased a new stake in First Trust Europe AlphaDEX Fund in the 2nd quarter worth about $51,000. Flagship Harbor Advisors LLC acquired a new stake in First Trust Europe AlphaDEX Fund during the 4th quarter worth about $61,000. Finally, Rossby Financial LCC increased its holdings in shares of First Trust Europe AlphaDEX Fund by 32.5% in the 3rd quarter. Rossby Financial LCC now owns 1,257 shares of the company's stock valued at $65,000 after purchasing an additional 308 shares during the period.

First Trust Europe AlphaDEX Fund Trading Up 0.4%

NASDAQ:FEP traded up $0.23 on Monday, reaching $52.51. 35,493 shares of the stock traded hands, compared to its average volume of 45,568. The company's fifty day simple moving average is $56.42 and its 200 day simple moving average is $53.51. First Trust Europe AlphaDEX Fund has a 12 month low of $33.02 and a 12 month high of $59.39. The company has a market capitalization of $409.58 million, a price-to-earnings ratio of -79.56 and a beta of 0.98.

First Trust Europe AlphaDEX Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 26th will be paid a $0.0762 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, March 26th. First Trust Europe AlphaDEX Fund's payout ratio is currently -265.15%.

First Trust Europe AlphaDEX Fund Company Profile

The First Trust Europe AlphaDEX Fund (FEP) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Europe index. The fund tracks a tiered equal-weighted index of 200 companies selected from the S&P Europe BMI based on the S&P's AlphaDex selection methodology. FEP was launched on Apr 18, 2011 and is managed by First Trust.

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