First Trust Large Cap Value AlphaDEX Fund (NASDAQ:FTA) Short Interest Up 101.7% in May

First Trust Large Cap Value AlphaDEX Fund (NASDAQ:FTA - Get Free Report) was the target of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 24,400 shares, an increase of 101.7% from the April 30th total of 12,100 shares. Based on an average daily volume of 47,300 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.2% of the company's shares are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC increased its position in First Trust Large Cap Value AlphaDEX Fund by 1.9% during the 1st quarter. LPL Financial LLC now owns 864,647 shares of the company's stock valued at $66,336,000 after purchasing an additional 15,758 shares during the period. Raymond James Financial Inc. purchased a new position in First Trust Large Cap Value AlphaDEX Fund during the 4th quarter valued at $34,542,000. Envestnet Asset Management Inc. increased its position in First Trust Large Cap Value AlphaDEX Fund by 1.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 421,855 shares of the company's stock valued at $32,365,000 after purchasing an additional 4,820 shares during the period. IHT Wealth Management LLC increased its position in First Trust Large Cap Value AlphaDEX Fund by 457.6% during the 4th quarter. IHT Wealth Management LLC now owns 301,256 shares of the company's stock valued at $23,034,000 after purchasing an additional 247,227 shares during the period. Finally, Cetera Investment Advisers increased its position in First Trust Large Cap Value AlphaDEX Fund by 3.5% during the 1st quarter. Cetera Investment Advisers now owns 299,756 shares of the company's stock valued at $22,997,000 after purchasing an additional 10,043 shares during the period.

First Trust Large Cap Value AlphaDEX Fund Price Performance

First Trust Large Cap Value AlphaDEX Fund stock traded down $0.42 during mid-day trading on Friday, reaching $75.38. 30,542 shares of the company traded hands, compared to its average volume of 46,805. The firm's 50 day moving average price is $73.69 and its 200 day moving average price is $76.79. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 13.58 and a beta of 1.11. First Trust Large Cap Value AlphaDEX Fund has a 52-week low of $66.01 and a 52-week high of $83.93.

First Trust Large Cap Value AlphaDEX Fund Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 27th were given a dividend of $0.3953 per share. This represents a $1.58 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Thursday, March 27th.

First Trust Large Cap Value AlphaDEX Fund Company Profile

The First Trust Large Cap Value AlphaDEX Fund (FTA) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Large Cap Value index. The fund selects and weights value stocks using fundamental factors including sales, book value and cash flows. FTA was launched on May 8, 2007 and is managed by First Trust.