First Trust Multi Cap Growth AlphaDEX Fund (NASDAQ:FAD) Sees Strong Trading Volume – Should You Buy?

First Trust Multi Cap Growth AlphaDEX Fund (NASDAQ:FAD) shares saw strong trading volume on Friday . Approximately 34,762 shares changed hands during trading, an increase of 169% from the previous session’s volume of 12,929 shares.The stock last traded at $190.6990 and had previously closed at $191.75.

First Trust Multi Cap Growth AlphaDEX Fund Price Performance

The company’s 50 day moving average is $187.78 and its two-hundred day moving average is $174.19. The firm has a market cap of $560.72 million, a P/E ratio of 25.26 and a beta of 1.15.

First Trust Multi Cap Growth AlphaDEX Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were issued a dividend of $0.0711 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Thursday, June 25th. This is a boost from First Trust Multi Cap Growth AlphaDEX Fund’s previous quarterly dividend of $0.02.

Hedge Funds Weigh In On First Trust Multi Cap Growth AlphaDEX Fund

Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada raised its position in First Trust Multi Cap Growth AlphaDEX Fund by 3.9% in the first quarter. Royal Bank of Canada now owns 25,122 shares of the company’s stock worth $3,250,000 after purchasing an additional 945 shares in the last quarter. Betterment LLC acquired a new stake in First Trust Multi Cap Growth AlphaDEX Fund in the 2nd quarter valued at $204,000. Raymond James Financial Inc. grew its position in First Trust Multi Cap Growth AlphaDEX Fund by 62.5% in the second quarter. Raymond James Financial Inc. now owns 134,552 shares of the company’s stock valued at $19,755,000 after acquiring an additional 51,752 shares during the period. Bank of America Corp DE raised its stake in First Trust Multi Cap Growth AlphaDEX Fund by 10.6% during the second quarter. Bank of America Corp DE now owns 31,719 shares of the company’s stock worth $4,657,000 after acquiring an additional 3,037 shares in the last quarter. Finally, Truefg LLC bought a new position in shares of First Trust Multi Cap Growth AlphaDEX Fund during the second quarter valued at $261,000.

About First Trust Multi Cap Growth AlphaDEX Fund

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.