First Trust Multi Cap Growth AlphaDEX Fund (NASDAQ:FAD) Sees Large Decline in Short Interest

First Trust Multi Cap Growth AlphaDEX Fund (NASDAQ:FAD) saw a large drop in short interest in May. As of May 29th, there was short interest totaling 20,782 shares, a drop of 41.5% from the May 14th total of 35,523 shares. Currently, 0.8% of the company’s stock are short sold. Based on an average trading volume of 15,605 shares, the days-to-cover ratio is presently 1.3 days.

First Trust Multi Cap Growth AlphaDEX Fund Price Performance

Shares of FAD traded down $1.45 on Tuesday, reaching $192.43. The company’s stock had a trading volume of 13,833 shares, compared to its average volume of 13,012. First Trust Multi Cap Growth AlphaDEX Fund has a 12-month low of $140.01 and a 12-month high of $194.77. The stock has a market capitalization of $500.31 million, a P/E ratio of 25.26 and a beta of 1.17. The stock’s 50 day simple moving average is $179.85 and its two-hundred day simple moving average is $170.24.

First Trust Multi Cap Growth AlphaDEX Fund Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were issued a dividend of $0.0218 per share. This is an increase from First Trust Multi Cap Growth AlphaDEX Fund’s previous quarterly dividend of $0.01. This represents a $0.09 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend was Thursday, March 26th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN boosted its stake in First Trust Multi Cap Growth AlphaDEX Fund by 5.1% during the fourth quarter. Wells Fargo & Company MN now owns 136,980 shares of the company’s stock worth $22,171,000 after buying an additional 6,702 shares during the period. Raymond James Financial Inc. boosted its stake in First Trust Multi Cap Growth AlphaDEX Fund by 62.5% during the second quarter. Raymond James Financial Inc. now owns 134,552 shares of the company’s stock worth $19,755,000 after buying an additional 51,752 shares during the period. Keystone Wealth Services LLC purchased a new position in First Trust Multi Cap Growth AlphaDEX Fund during the fourth quarter worth $8,708,000. Osaic Holdings Inc. boosted its stake in First Trust Multi Cap Growth AlphaDEX Fund by 0.7% during the fourth quarter. Osaic Holdings Inc. now owns 48,706 shares of the company’s stock worth $7,883,000 after buying an additional 355 shares during the period. Finally, Bank of America Corp DE boosted its stake in First Trust Multi Cap Growth AlphaDEX Fund by 37.3% during the first quarter. Bank of America Corp DE now owns 41,501 shares of the company’s stock worth $6,595,000 after buying an additional 11,276 shares during the period.

First Trust Multi Cap Growth AlphaDEX Fund Company Profile

First Trust Multi Cap Growth AlphaDEX Fund (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield of an equity index called the Defined Multi Cap Growth Index (the Index). The Index is an enhanced index created and administered by Standard & Poor’s, which selects stocks from the S&P Composite 1500/Citigroup Growth Index. Standard & Poor’s constructs the Index by employing the AlphaDEX stock selection methodology to rank the stocks from the three component indices that comprise the S&P Composite 1500/Citigroup Growth Index, which are the S&P 500/Citigroup Growth Index, the S&P MidCap 400/Citigroup Growth Index and the S&P SmallCap 600/Citigroup Growth Index.