First Trust Utilities AlphaDEX Fund (NYSEARCA:FXU) Sees Large Drop in Short Interest

First Trust Utilities AlphaDEX Fund (NYSEARCA:FXU) was the recipient of a large decline in short interest in March. As of March 13th, there was short interest totaling 68,968 shares, a decline of 14.9% from the February 26th total of 81,004 shares. Based on an average daily volume of 573,726 shares, the short-interest ratio is presently 0.1 days. Approximately 0.4% of the company’s shares are sold short.

First Trust Utilities AlphaDEX Fund Stock Down 0.4%

Shares of FXU traded down $0.18 during mid-day trading on Tuesday, reaching $49.27. The company’s stock had a trading volume of 78,149 shares, compared to its average volume of 850,927. The company has a market cap of $857.30 million, a price-to-earnings ratio of 17.41 and a beta of 0.67. The business has a fifty day moving average of $48.78 and a 200 day moving average of $46.83. First Trust Utilities AlphaDEX Fund has a 1 year low of $36.88 and a 1 year high of $51.08.

First Trust Utilities AlphaDEX Fund Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 26th will be paid a $0.229 dividend. This represents a $0.92 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Thursday, March 26th.

Institutional Investors Weigh In On First Trust Utilities AlphaDEX Fund

A number of institutional investors have recently bought and sold shares of FXU. Belpointe Asset Management LLC lifted its position in shares of First Trust Utilities AlphaDEX Fund by 6.1% in the third quarter. Belpointe Asset Management LLC now owns 5,294 shares of the company’s stock worth $241,000 after purchasing an additional 305 shares in the last quarter. Arkadios Wealth Advisors purchased a new position in First Trust Utilities AlphaDEX Fund during the third quarter valued at approximately $288,000. Fortis Capital Advisors LLC grew its position in First Trust Utilities AlphaDEX Fund by 6.1% during the third quarter. Fortis Capital Advisors LLC now owns 5,294 shares of the company’s stock valued at $241,000 after purchasing an additional 305 shares in the last quarter. Global Assets Advisory LLC acquired a new position in First Trust Utilities AlphaDEX Fund in the 3rd quarter valued at approximately $255,000. Finally, Element Wealth LLC increased its stake in First Trust Utilities AlphaDEX Fund by 29.4% in the 3rd quarter. Element Wealth LLC now owns 25,514 shares of the company’s stock valued at $1,160,000 after buying an additional 5,794 shares during the period.

About First Trust Utilities AlphaDEX Fund

First Trust Utilities 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 StrataQuant Utilities Index (the Index). The Index is an enhanced index created and administered by the AMEX, which employs the AlphaDEX stock selection methodology to select stocks from the Russell 1000 Index. The AMEX constructs the Index by ranking the stocks, which are members of the Russell 1000 Index on growth factors, including 3, 6 and 12-month price appreciation, sales to price and one-year sales growth, and separately on value factors, including book value to price, cash flow to price and return on assets.