First Trust Europe AlphaDEX Fund (NASDAQ:FEP) Stock Short Interest Drops 88.5%

First Trust Europe AlphaDEX Fund (NASDAQ:FEP) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 20,315 shares, a drop of 88.5% from the September 30th total of 177,042 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily volume of 37,836 shares, the days-to-cover ratio is currently 0.5 days.

First Trust Europe AlphaDEX Fund Trading Up 0.7%

Shares of FEP traded up $0.40 during midday trading on Monday, reaching $56.04. 10,758 shares of the stock were exchanged, compared to its average volume of 31,157. First Trust Europe AlphaDEX Fund has a 52 week low of $49.11 and a 52 week high of $61.07. The company’s 50 day moving average is $58.26 and its two-hundred day moving average is $58.29. The company has a market capitalization of $484.75 million, a P/E ratio of -84.91 and a beta of 0.90.

First Trust Europe AlphaDEX Fund Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were paid a $0.3254 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 2.3%. 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. First Trust Europe AlphaDEX Fund’s payout ratio is currently -263.64%.

Institutional Investors Weigh In On First Trust Europe AlphaDEX Fund

Large investors have recently modified their holdings of the business. Sigma Planning Corp purchased a new stake in shares of First Trust Europe AlphaDEX Fund in the 3rd quarter worth approximately $492,000. Mainsail Financial Group LLC increased its holdings in First Trust Europe AlphaDEX Fund by 3.1% during the third quarter. Mainsail Financial Group LLC now owns 47,024 shares of the company’s stock valued at $2,653,000 after buying an additional 1,415 shares during the period. Wedbush Securities Inc. bought a new position in First Trust Europe AlphaDEX Fund in the third quarter worth approximately $329,000. Novem Group raised its stake in First Trust Europe AlphaDEX Fund by 14.0% in the third quarter. Novem Group now owns 4,619 shares of the company’s stock worth $261,000 after buying an additional 567 shares in the last quarter. Finally, Vontobel Holding Ltd. purchased a new stake in First Trust Europe AlphaDEX Fund during the third quarter worth $7,955,000.

About First Trust Europe AlphaDEX Fund

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.