First Trust Europe AlphaDEX Fund (NASDAQ:FEP) Sees Unusually-High Trading Volume – Still a Buy?

Shares of First Trust Europe AlphaDEX Fund (NASDAQ:FEP) saw strong trading volume on Tuesday . Approximately 34,142 shares traded hands during trading, an increase of 2% from the previous session’s volume of 33,494 shares.The stock last traded at $57.5390 and had previously closed at $58.40.

First Trust Europe AlphaDEX Fund Price Performance

The firm has a 50-day moving average of $58.54 and a 200 day moving average of $56.48. The stock has a market capitalization of $510.91 million, a price-to-earnings ratio of -87.47 and a beta of 0.89.

First Trust Europe AlphaDEX Fund Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th were issued a $0.0762 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, March 26th. First Trust Europe AlphaDEX Fund’s dividend payout ratio is presently -265.15%.

Hedge Funds Weigh In On First Trust Europe AlphaDEX Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. First Trust Advisors LP bought a new stake in First Trust Europe AlphaDEX Fund during the fourth quarter worth $38,048,000. Citadel Advisors LLC bought a new position in shares of First Trust Europe AlphaDEX Fund in the 3rd quarter valued at about $3,366,000. &PARTNERS increased its stake in shares of First Trust Europe AlphaDEX Fund by 398.2% during the 4th quarter. &PARTNERS now owns 72,684 shares of the company’s stock worth $3,907,000 after purchasing an additional 58,096 shares during the last quarter. LPL Financial LLC increased its stake in shares of First Trust Europe AlphaDEX Fund by 9.0% during the 4th quarter. LPL Financial LLC now owns 508,290 shares of the company’s stock worth $27,323,000 after purchasing an additional 41,941 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of First Trust Europe AlphaDEX Fund by 125.7% in the 2nd quarter. Bank of America Corp DE now owns 71,126 shares of the company’s stock valued at $3,400,000 after purchasing an additional 39,606 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.