Short Interest in First Trust Germany AlphaDEX Fund (NASDAQ:FGM) Declines By 77.8%

Key Points

• Short interest in First Trust Germany AlphaDEX Fund (NASDAQ: FGM) fell sharply in July, dropping 77.8% to 7,429 shares as of July 15 from 33,496 shares on June 30.
• The ETF was trading at $62.01 with a market cap of $96.11 million, and it sits below both its 50-day and 200-day moving averages.
• FGM recently paid a quarterly dividend of $0.8422 per share, equal to an annualized yield of 5.4%.

First Trust Germany AlphaDEX Fund (NASDAQ:FGM - ) was the target of a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 7,429 shares, a drop of 77.8% from the June 30th total of 33,496 shares. Based on an average trading volume of 965 shares, the short-interest ratio is currently 7.7 days. Approximately 0.5% of the shares of the company are sold short.

First Trust Germany AlphaDEX Fund Price Performance

Shares of First Trust Germany AlphaDEX Fund stock opened at $62.01 on Friday. The company's fifty day simple moving average is $63.99 and its 200-day simple moving average is $64.58. The stock has a market capitalization of $96.11 million, a PE ratio of 13.97 and a beta of 0.95. First Trust Germany AlphaDEX Fund has a 1-year low of $52.93 and a 1-year high of $71.12.

First Trust Germany AlphaDEX Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were paid a $0.8422 dividend. This represents a $3.37 annualized dividend and a dividend yield of 5.4%. The ex-dividend date was Thursday, June 25th.

Hedge Funds Weigh In On First Trust Germany AlphaDEX Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP grew its holdings in First Trust Germany AlphaDEX Fund by 52.6% during the first quarter. First Trust Advisors LP now owns 925,098 shares of the company's stock valued at $55,522,000 after purchasing an additional 318,845 shares during the period. Kestra Advisory Services LLC increased its position in First Trust Germany AlphaDEX Fund by 0.5% in the fourth quarter. Kestra Advisory Services LLC now owns 54,475 shares of the company's stock worth $3,397,000 after buying an additional 269 shares in the last quarter. Jane Street Group LLC raised its stake in shares of First Trust Germany AlphaDEX Fund by 238.1% in the first quarter. Jane Street Group LLC now owns 52,451 shares of the company's stock worth $2,408,000 after buying an additional 36,938 shares during the period. Arlington Capital Management Inc. bought a new position in shares of First Trust Germany AlphaDEX Fund in the third quarter worth about $3,043,000. Finally, &PARTNERS purchased a new position in shares of First Trust Germany AlphaDEX Fund during the 4th quarter valued at about $3,077,000.

About First Trust Germany AlphaDEX Fund

The First Trust Germany AlphaDEX Fund (FGM) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Germany index. The fund tracks a tiered equal-weighted index of 40 companies selected from the S&P Germany BMI based on the S&P's AlphaDex selection methodology. FGM was launched on Feb 14, 2012 and is managed by First Trust.

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.