First Trust Europe AlphaDEX Fund (NASDAQ:FEP) Sees Strong Trading Volume – Here’s Why

First Trust Europe AlphaDEX Fund (NASDAQ:FEP) shares saw unusually-high trading volume on Tuesday. Approximately 115,725 shares traded hands during mid-day trading, an increase of 300% from the previous session’s volume of 28,924 shares. The stock last traded at $57.0890 and had previously closed at $57.71.

First Trust Europe AlphaDEX Fund Trading Down 1.7%

The company’s 50-day moving average price is $59.35 and its two-hundred day moving average price is $58.02. The company has a market cap of $507.91 million, a P/E ratio of -85.98 and a beta of 0.90.

First Trust Europe AlphaDEX Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 24th will be issued a dividend of $0.3254 per share. The ex-dividend date is Thursday, September 24th. This is a negative change from First Trust Europe AlphaDEX Fund’s previous quarterly dividend of $0.7986. This represents a $1.30 dividend on an annualized basis and a yield of 2.3%. First Trust Europe AlphaDEX Fund’s payout ratio is -263.64%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. First Trust Advisors LP raised its position in shares of First Trust Europe AlphaDEX Fund by 52.5% during the first quarter. First Trust Advisors LP now owns 1,079,715 shares of the company’s stock worth $58,963,000 after purchasing an additional 371,900 shares during the period. Parallel Advisors LLC acquired a new position in shares of First Trust Europe AlphaDEX Fund in the 1st quarter valued at $130,000. Assetmark Inc. increased its stake in First Trust Europe AlphaDEX Fund by 6.7% in the 1st quarter. Assetmark Inc. now owns 123,126 shares of the company’s stock worth $6,724,000 after purchasing an additional 7,765 shares in the last quarter. Independent Financial Group LLC purchased a new position in First Trust Europe AlphaDEX Fund in the 1st quarter worth about $432,000. Finally, Sanctuary Advisors LLC raised its holdings in First Trust Europe AlphaDEX Fund by 2.7% during the 1st quarter. Sanctuary Advisors LLC now owns 11,573 shares of the company’s stock worth $632,000 after buying an additional 305 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.