Short Interest in First Trust Multi Cap Value AlphaDEX Fund (NASDAQ:FAB) Grows By 42,072.0%

Key Points

• Short interest in FAB surged sharply in July, rising to 60,306 shares from just 143 shares at the end of June. That means about 4.0% of the fund’s shares are now sold short.
• FAB shares edged higher by 1.4% to $104.64, near the fund’s 52-week high of $105.82. Trading volume was slightly above average, and the fund has a market cap of about $157 million.
• The fund recently paid a quarterly dividend of $0.3468 per share, which works out to an annualized yield of about 1.3%. The article also notes several hedge funds increased their positions in FAB during recent quarters.

First Trust Multi Cap Value AlphaDEX Fund (NASDAQ:FAB - ) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 60,306 shares, a growth of 42,072.0% from the June 30th total of 143 shares. Approximately 4.0% of the shares of the stock are sold short. Based on an average daily volume of 26,760 shares, the short-interest ratio is currently 2.3 days.

First Trust Multi Cap Value AlphaDEX Fund Trading Up 1.4%

Shares of FAB traded up $1.45 during trading hours on Friday, reaching $104.64. 6,224 shares of the stock traded hands, compared to its average volume of 5,666. First Trust Multi Cap Value AlphaDEX Fund has a 52-week low of $80.81 and a 52-week high of $105.82. The company's 50-day moving average price is $100.46 and its two-hundred day moving average price is $97.38. The company has a market cap of $156.97 million, a P/E ratio of 11.94 and a beta of 0.88.

First Trust Multi Cap Value AlphaDEX Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were issued a dividend of $0.3468 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $1.39 dividend on an annualized basis and a yield of 1.3%.

Hedge Funds Weigh In On First Trust Multi Cap Value AlphaDEX Fund

Several large investors have recently made changes to their positions in FAB. Raymond James Financial Inc. lifted its holdings in First Trust Multi Cap Value AlphaDEX Fund by 0.7% in the 3rd quarter. Raymond James Financial Inc. now owns 62,143 shares of the company's stock worth $5,423,000 after purchasing an additional 432 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of First Trust Multi Cap Value AlphaDEX Fund by 0.4% in the fourth quarter. LPL Financial LLC now owns 45,669 shares of the company's stock worth $4,072,000 after buying an additional 164 shares in the last quarter. Osaic Holdings Inc. boosted its position in shares of First Trust Multi Cap Value AlphaDEX Fund by 10.4% during the fourth quarter. Osaic Holdings Inc. now owns 42,940 shares of the company's stock worth $3,828,000 after acquiring an additional 4,048 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of First Trust Multi Cap Value AlphaDEX Fund by 2,590.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 21,548 shares of the company's stock worth $1,921,000 after acquiring an additional 20,747 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its stake in First Trust Multi Cap Value AlphaDEX Fund by 206.2% during the first quarter. Jones Financial Companies Lllp now owns 7,848 shares of the company's stock valued at $624,000 after acquiring an additional 5,285 shares in the last quarter.

First Trust Multi Cap Value AlphaDEX Fund Company Profile

The First Trust Multi Cap Value AlphaDEX Fund (FAB) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Multi Cap Value index. The fund tracks an index that uses fundamental factors to select and weight value stocks from the Nasdaq US Select Indices. FAB was launched on May 8, 2007 and is managed by First Trust.

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