First Trust Germany AlphaDEX Fund (NASDAQ:FGM) Stock Short Interest Drops 43.4%

First Trust Germany AlphaDEX Fund (NASDAQ:FGM) was the recipient of a large 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 trading volume of 1,113 shares, the short-interest ratio is presently 3.7 days. Currently, 0.3% of the company’s shares are sold short.

Hedge Funds Weigh In On First Trust Germany AlphaDEX Fund

Hedge funds have recently added to or reduced their stakes in the stock. Cetera Investment Advisers acquired a new position in shares of First Trust Germany AlphaDEX Fund during the 1st quarter worth about $280,000. First Trust Advisors LP increased its stake in shares of 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 acquiring an additional 318,845 shares during the last quarter. Finally, Cottonwood Capital Advisors LLC raised its position in shares of First Trust Germany AlphaDEX Fund by 4.8% in the 1st quarter. Cottonwood Capital Advisors LLC now owns 19,998 shares of the company’s stock valued at $1,200,000 after acquiring an additional 919 shares during the period.

First Trust Germany AlphaDEX Fund Stock Performance

Shares of First Trust Germany AlphaDEX Fund stock opened at $58.05 on Friday. The firm has a fifty day moving average of $62.79 and a two-hundred day moving average of $63.31. The stock has a market capitalization of $89.98 million, a price-to-earnings ratio of 13.97 and a beta of 0.95. First Trust Germany AlphaDEX Fund has a 52 week low of $54.50 and a 52 week high of $71.12.

First Trust Germany AlphaDEX Fund Cuts Dividend

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

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.