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

First Trust United Kingdom AlphaDEX Fund (NASDAQ:FKU)’s share price dropped 2% during mid-day trading on Thursday. The company 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 daily volume of 15,284 shares. The stock had previously closed at $56.54.

First Trust United Kingdom AlphaDEX Fund Stock Down 2.0%

The stock has a market cap of $36.01 million, a price-to-earnings ratio of 11.78 and a beta of 0.87. The company has a 50 day simple moving average of $54.92 and a 200 day simple moving average of $54.04.

First Trust United Kingdom AlphaDEX Fund Cuts Dividend

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

Hedge Funds Weigh In On First Trust United Kingdom AlphaDEX Fund

An institutional investor recently bought a new position in First Trust United Kingdom AlphaDEX Fund stock. Genesee Capital Advisors LLC acquired a new position in shares of First Trust United Kingdom AlphaDEX Fund (NASDAQ:FKU) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,637 shares of the company’s stock, valued at approximately $629,000. Genesee Capital Advisors LLC owned approximately 1.79% of First Trust United Kingdom AlphaDEX Fund at the end of the most recent reporting period.

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.