First Trust Europe AlphaDEX Fund (NASDAQ:FEP) Sees Strong Trading Volume – Here’s What Happened

Shares of First Trust Europe AlphaDEX Fund (NASDAQ:FEP) saw unusually-strong trading volume on Tuesday. 51,331 shares were traded during mid-day trading, an increase of 63% from the previous session’s volume of 31,464 shares. The stock last traded at $55.97 and had previously closed at $55.90.

First Trust Europe AlphaDEX Fund Stock Down 1.5%

The firm has a market cap of $497.79 million, a price-to-earnings ratio of -83.80 and a beta of 0.90. The company’s fifty day moving average is $59.12 and its 200 day moving average is $58.10.

First Trust Europe AlphaDEX Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th were given a dividend of $0.3254 per share. This is a drop from First Trust Europe AlphaDEX Fund’s previous quarterly dividend of $0.7986. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $1.30 annualized dividend and a yield of 2.4%. First Trust Europe AlphaDEX Fund’s payout ratio is presently -263.64%.

Institutional Trading of First Trust Europe AlphaDEX Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. First Trust Advisors LP boosted its position in First Trust Europe AlphaDEX Fund by 52.5% during the first quarter. First Trust Advisors LP now owns 1,079,715 shares of the company’s stock worth $58,963,000 after purchasing an additional 371,900 shares during the period. Gateway Wealth Partners LLC raised its position in shares of First Trust Europe AlphaDEX Fund by 112.7% in the first quarter. Gateway Wealth Partners LLC now owns 49,250 shares of the company’s stock valued at $2,690,000 after purchasing an additional 26,096 shares during the period. Hsbc Holdings PLC bought a new position in shares of First Trust Europe AlphaDEX Fund in the first quarter valued at about $1,283,000. Bank of America Corp DE lifted its stake in shares of First Trust Europe AlphaDEX Fund by 9.0% during the 1st quarter. Bank of America Corp DE now owns 120,815 shares of the company’s stock worth $6,598,000 after buying an additional 9,965 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of First Trust Europe AlphaDEX Fund by 3.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 298,459 shares of the company’s stock worth $17,027,000 after buying an additional 9,002 shares during the last quarter.

First Trust Europe AlphaDEX Fund Company Profile

The First Trust Europe AlphaDEX Fund (FEP) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Europe index. The fund tracks a tiered equal-weighted index of 200 companies selected from the S&P Europe BMI based on the S&P’s AlphaDex selection methodology. FEP was launched on Apr 18, 2011 and is managed by First Trust.