Short Interest in First Trust Europe AlphaDEX Fund (NASDAQ:FEP) Declines By 26.8%

First Trust Europe AlphaDEX Fund (NASDAQ:FEP - Get Free Report) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 23,200 shares, a drop of 26.8% from the March 15th total of 31,700 shares. Based on an average daily trading volume, of 43,100 shares, the short-interest ratio is currently 0.5 days. Currently, 0.4% of the company's stock are sold short.

First Trust Europe AlphaDEX Fund Stock Performance

NASDAQ:FEP traded up $0.29 on Wednesday, hitting $42.02. The stock had a trading volume of 3,150 shares, compared to its average volume of 23,408. The stock has a market cap of $231.11 million, a P/E ratio of -63.67 and a beta of 1.09. First Trust Europe AlphaDEX Fund has a 1 year low of $33.02 and a 1 year high of $43.15. The firm's fifty day simple moving average is $40.50 and its two-hundred day simple moving average is $38.27.

First Trust Europe AlphaDEX Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 27th were issued a dividend of $0.1115 per share. This represents a $0.45 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Thursday, March 27th. First Trust Europe AlphaDEX Fund's dividend payout ratio (DPR) is -240.91%.

Hedge Funds Weigh In On First Trust Europe AlphaDEX Fund

Institutional investors and hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC boosted its holdings in shares of First Trust Europe AlphaDEX Fund by 5.7% in the fourth quarter. Sanctuary Advisors LLC now owns 9,996 shares of the company's stock worth $379,000 after acquiring an additional 539 shares during the period. IFP Advisors Inc boosted its holdings in shares of First Trust Europe AlphaDEX Fund by 6.7% in the fourth quarter. IFP Advisors Inc now owns 28,606 shares of the company's stock worth $1,025,000 after acquiring an additional 1,805 shares during the period. Principal Securities Inc. boosted its holdings in shares of First Trust Europe AlphaDEX Fund by 22.4% in the fourth quarter. Principal Securities Inc. now owns 2,875 shares of the company's stock worth $103,000 after acquiring an additional 527 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of First Trust Europe AlphaDEX Fund by 5.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 45,799 shares of the company's stock worth $1,640,000 after acquiring an additional 2,204 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of First Trust Europe AlphaDEX Fund by 76.6% in the third quarter. JPMorgan Chase & Co. now owns 2,307 shares of the company's stock worth $90,000 after acquiring an additional 1,001 shares during the period.

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.