First Trust Germany AlphaDEX Fund (NASDAQ:FGM) Sees Large Decrease in Short Interest

First Trust Germany AlphaDEX Fund (NASDAQ:FGM) was the recipient of a significant decline in short interest in the month of September. As of September 15th, there was short interest totaling 4,124 shares, a decline of 43.4% from the August 31st total of 7,290 shares. Based on an average daily trading volume, of 1,113 shares, the days-to-cover ratio is presently 3.7 days. Approximately 0.3% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP increased its stake in First Trust Germany AlphaDEX Fund by 52.6% in the 1st quarter. First Trust Advisors LP now owns 925,098 shares of the company’s stock valued at $55,522,000 after buying an additional 318,845 shares during the last quarter. Cetera Investment Advisers bought a new stake in First Trust Germany AlphaDEX Fund during the first quarter worth $280,000. Finally, Cottonwood Capital Advisors LLC boosted its position in First Trust Germany AlphaDEX Fund by 4.8% in the first quarter. Cottonwood Capital Advisors LLC now owns 19,998 shares of the company’s stock worth $1,200,000 after purchasing an additional 919 shares during the last quarter.

First Trust Germany AlphaDEX Fund Price Performance

Shares of First Trust Germany AlphaDEX Fund stock traded down $1.22 during trading on Thursday, reaching $57.97. 1,058 shares of the company traded hands, compared to its average volume of 10,779. The firm has a market capitalization of $89.85 million, a PE ratio of 13.97 and a beta of 0.95. First Trust Germany AlphaDEX Fund has a 1-year low of $54.50 and a 1-year high of $71.12. The company has a 50 day moving average price of $62.86 and a 200-day moving average price of $63.31.

First Trust Germany AlphaDEX Fund Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were paid a $0.1906 dividend. The ex-dividend date was Thursday, September 24th. This represents a $0.76 annualized dividend and a dividend yield of 1.3%. This is a drop from First Trust Germany AlphaDEX Fund’s previous quarterly dividend of $0.8422.

First Trust Germany AlphaDEX Fund Company Profile

The First Trust Germany AlphaDEX Fund (FGM) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Germany index. The fund tracks a tiered equal-weighted index of 40 companies selected from the S&P Germany BMI based on the S&P’s AlphaDex selection methodology. FGM was launched on Feb 14, 2012 and is managed by First Trust.