Short Interest in First Trust Multi Cap Growth AlphaDEX Fund (NASDAQ:FAD) Drops By 43.6%

First Trust Multi Cap Growth AlphaDEX Fund (NASDAQ:FAD) saw a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 12,888 shares, a drop of 43.6% from the January 15th total of 22,868 shares. Based on an average daily volume of 13,490 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.5% of the shares of the company are short sold. Currently, 0.5% of the shares of the company are short sold. Based on an average daily volume of 13,490 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FAD. Thurston Springer Miller Herd & Titak Inc. bought a new position in First Trust Multi Cap Growth AlphaDEX Fund in the 4th quarter worth $37,000. Allworth Financial LP purchased a new stake in First Trust Multi Cap Growth AlphaDEX Fund in the second quarter worth about $39,000. Cullen Frost Bankers Inc. purchased a new stake in First Trust Multi Cap Growth AlphaDEX Fund in the fourth quarter worth about $58,000. US Bancorp DE bought a new position in shares of First Trust Multi Cap Growth AlphaDEX Fund in the third quarter worth about $62,000. Finally, Sound Income Strategies LLC lifted its position in shares of First Trust Multi Cap Growth AlphaDEX Fund by 411.1% during the 4th quarter. Sound Income Strategies LLC now owns 460 shares of the company’s stock valued at $78,000 after buying an additional 370 shares in the last quarter.

First Trust Multi Cap Growth AlphaDEX Fund Stock Up 1.3%

FAD traded up $2.12 during mid-day trading on Friday, reaching $167.72. 9,941 shares of the company traded hands, compared to its average volume of 18,016. The company’s fifty day moving average price is $166.55 and its 200-day moving average price is $160.89. The stock has a market capitalization of $410.91 million, a P/E ratio of 25.26 and a beta of 1.15. First Trust Multi Cap Growth AlphaDEX Fund has a 52-week low of $113.03 and a 52-week high of $172.23.

First Trust Multi Cap Growth AlphaDEX Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, December 12th were given a dividend of $0.0085 per share. This represents a $0.03 annualized dividend and a yield of 0.0%. The ex-dividend date was Friday, December 12th.

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.