First Trust Small Cap Value AlphaDEX Fund (NASDAQ:FYT) Short Interest Up 1,906.3% in July

First Trust Small Cap Value AlphaDEX Fund (NASDAQ:FYT) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 29,031 shares, an increase of 1,906.3% from the June 30th total of 1,447 shares. Based on an average daily trading volume, of 12,588 shares, the days-to-cover ratio is currently 2.3 days. Currently, 1.1% of the company’s shares are short sold.

First Trust Small Cap Value AlphaDEX Fund Price Performance

First Trust Small Cap Value AlphaDEX Fund stock traded up $1.09 during trading hours on Friday, reaching $71.64. The stock had a trading volume of 4,585 shares, compared to its average volume of 17,464. The company has a fifty day simple moving average of $68.22 and a 200-day simple moving average of $64.70. First Trust Small Cap Value AlphaDEX Fund has a 52 week low of $50.15 and a 52 week high of $72.46. The stock has a market cap of $189.85 million, a PE ratio of 10.91 and a beta of 0.97.

First Trust Small Cap Value AlphaDEX Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were paid a $0.298 dividend. The ex-dividend date of this dividend was Thursday, June 25th. This is a boost from First Trust Small Cap Value AlphaDEX Fund’s previous quarterly dividend of $0.20. This represents a $1.19 annualized dividend and a dividend yield of 1.7%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FYT. Sound Income Strategies LLC bought a new stake in shares of First Trust Small Cap Value AlphaDEX Fund in the 4th quarter worth approximately $44,000. JPMorgan Chase & Co. lifted its stake in First Trust Small Cap Value AlphaDEX Fund by 32.2% in the third quarter. JPMorgan Chase & Co. now owns 923 shares of the company’s stock worth $52,000 after acquiring an additional 225 shares during the period. Western Wealth Management LLC bought a new stake in First Trust Small Cap Value AlphaDEX Fund in the first quarter valued at $60,000. Corient Private Wealth LLC bought a new stake in First Trust Small Cap Value AlphaDEX Fund in the fourth quarter valued at $202,000. Finally, Focus Partners Advisor Solutions LLC purchased a new position in First Trust Small Cap Value AlphaDEX Fund during the 4th quarter valued at $207,000.

First Trust Small Cap Value AlphaDEX Fund Company Profile

The First Trust Small Cap Value AlphaDEX Fund (FYT) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Small Cap Value index. The fund tracks an index of securities pulled from the NASDAQ US 700 Small Cap Index that are rescreened and weighted based on a tiered process. FYT was launched on Apr 18, 2011 and is managed by First Trust.