First Trust United Kingdom AlphaDEX Fund (NASDAQ:FKU) Stock Falls 2% – Should You Sell?

First Trust United Kingdom AlphaDEX Fund (NASDAQ:FKU)’s stock price dropped 2% during trading on Thursday. The stock traded as low as $55.28 and last traded at $55.40. Approximately 2,360 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 15,284 shares. The stock had previously closed at $56.54.

First Trust United Kingdom AlphaDEX Fund Stock Performance

The company has a market cap of $36.01 million, a P/E ratio of 11.78 and a beta of 0.87. The stock’s fifty day moving average price is $54.92 and its two-hundred day moving average price is $54.04.

First Trust United Kingdom AlphaDEX Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th were given a dividend of $0.3619 per share. This is a decrease from First Trust United Kingdom AlphaDEX Fund’s previous quarterly dividend of $1.0965. This represents a $1.45 annualized dividend and a yield of 2.6%. The ex-dividend date was Thursday, September 24th.

Institutional Investors Weigh In On First Trust United Kingdom AlphaDEX Fund

A hedge fund recently raised its stake in First Trust United Kingdom AlphaDEX Fund stock. First Trust Advisors LP lifted its holdings in shares of First Trust United Kingdom AlphaDEX Fund (NASDAQ:FKU) by 52.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,149,823 shares of the company’s stock after buying an additional 395,709 shares during the period. First Trust Advisors LP owned about 153.31% of First Trust United Kingdom AlphaDEX Fund worth $57,907,000 as of its most recent filing with the SEC.

About First Trust United Kingdom AlphaDEX Fund

The First Trust United Kingdom AlphaDEX Fund (FKU) is an exchange-traded fund that is based on the NASDAQ AlphaDEX United Kingdom index. The fund tracks a tiered equal-weighted index of 75 companies selected based on NASDAQs AlphaDEX selection methodology. FKU was launched on Feb 14, 2012 and is managed by First Trust.