First Trust Small Cap Value AlphaDEX Fund (NASDAQ:FYT) Sees Large Decline in Short Interest

First Trust Small Cap Value AlphaDEX Fund (NASDAQ:FYT) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 27,691 shares, a drop of 32.2% from the August 15th total of 40,848 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 12,195 shares, the days-to-cover ratio is presently 2.3 days.

First Trust Small Cap Value AlphaDEX Fund Stock Performance

Shares of FYT traded down $0.27 during midday trading on Thursday, hitting $70.18. 650 shares of the stock traded hands, compared to its average volume of 17,560. First Trust Small Cap Value AlphaDEX Fund has a 1-year low of $52.47 and a 1-year high of $73.77. The firm has a market capitalization of $141.06 million, a PE ratio of 10.91 and a beta of 0.97. The business’s 50 day moving average price is $71.79 and its two-hundred day moving average price is $67.49.

First Trust Small Cap Value AlphaDEX Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were given a $0.298 dividend. This is a positive change from First Trust Small Cap Value AlphaDEX Fund’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, June 25th. This represents a $1.19 annualized dividend and a yield of 1.7%.

Institutional Investors Weigh In On First Trust Small Cap Value AlphaDEX Fund

A number of hedge funds have recently made changes to their positions in FYT. Baird Financial Group Inc. grew its holdings in First Trust Small Cap Value AlphaDEX Fund by 7.5% in the 2nd quarter. Baird Financial Group Inc. now owns 7,164 shares of the company’s stock worth $500,000 after buying an additional 500 shares in the last quarter. Western Wealth Management LLC acquired a new position in First Trust Small Cap Value AlphaDEX Fund during the 1st quarter worth $60,000. Gateway Wealth Partners LLC grew its stake in shares of First Trust Small Cap Value AlphaDEX Fund by 102.8% in the first quarter. Gateway Wealth Partners LLC now owns 24,628 shares of the company’s stock worth $1,522,000 after purchasing an additional 12,487 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of First Trust Small Cap Value AlphaDEX Fund by 7.6% in the first quarter. Cetera Investment Advisers now owns 60,279 shares of the company’s stock worth $3,725,000 after purchasing an additional 4,268 shares in the last quarter. Finally, Nwam LLC acquired a new position in shares of First Trust Small Cap Value AlphaDEX Fund during the first quarter valued at $1,241,000.

First Trust Small Cap Value AlphaDEX Fund Company Profile

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.