First Trust Small Cap Value AlphaDEX Fund (NASDAQ:FYT) Short Interest Down 66.5% in May

First Trust Small Cap Value AlphaDEX Fund (NASDAQ:FYT) was the target of a large decline in short interest in the month of May. As of May 15th, there was short interest totaling 4,571 shares, a decline of 66.5% from the April 30th total of 13,664 shares. Based on an average daily volume of 23,627 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.2% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FYT. Sound Income Strategies LLC bought a new position in shares of First Trust Small Cap Value AlphaDEX Fund in the fourth quarter worth $44,000. JPMorgan Chase & Co. grew its stake in shares of First Trust Small Cap Value AlphaDEX Fund by 32.2% in the third quarter. JPMorgan Chase & Co. now owns 923 shares of the company’s stock worth $52,000 after purchasing an additional 225 shares in the last quarter. Western Wealth Management LLC bought a new position in shares of First Trust Small Cap Value AlphaDEX Fund in the first quarter worth $60,000. Founders Financial Alliance LLC bought a new position in shares of First Trust Small Cap Value AlphaDEX Fund in the third quarter worth $159,000. Finally, Level Four Advisory Services LLC bought a new position in shares of First Trust Small Cap Value AlphaDEX Fund in the third quarter worth $201,000.

First Trust Small Cap Value AlphaDEX Fund Price Performance

NASDAQ:FYT traded up $0.14 during midday trading on Monday, reaching $66.07. 14,443 shares of the company traded hands, compared to its average volume of 20,591. First Trust Small Cap Value AlphaDEX Fund has a twelve month low of $47.91 and a twelve month high of $67.71. The firm has a market capitalization of $181.70 million, a price-to-earnings ratio of 10.91 and a beta of 1.00. The company has a fifty day moving average price of $64.44 and a 200 day moving average price of $61.25.

First Trust Small Cap Value AlphaDEX Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th were paid a $0.2014 dividend. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $0.81 annualized dividend and a dividend yield of 1.2%.

About First Trust Small Cap Value AlphaDEX Fund

The First Trust Small Cap Value AlphaDEX Fund (FYT) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Small Cap Value index. The fund tracks an index of securities pulled from the NASDAQ US 700 Small Cap Index that are rescreened and weighted based on a tiered process. FYT was launched on Apr 18, 2011 and is managed by First Trust.