First Trust Emerging Markets AlphaDEX Fund (NASDAQ:FEM) Sees Large Growth in Short Interest

First Trust Emerging Markets AlphaDEX Fund (NASDAQ:FEM) was the recipient of a large growth in short interest during the month of April. As of April 30th, there was short interest totaling 168,304 shares, a growth of 117.6% from the April 15th total of 77,344 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average daily volume of 126,230 shares, the days-to-cover ratio is currently 1.3 days.

First Trust Emerging Markets AlphaDEX Fund Stock Down 3.3%

Shares of First Trust Emerging Markets AlphaDEX Fund stock traded down $1.09 during midday trading on Friday, hitting $32.03. The company had a trading volume of 78,585 shares, compared to its average volume of 150,335. The stock has a market cap of $720.68 million, a price-to-earnings ratio of 9.20 and a beta of 0.62. The company has a fifty day simple moving average of $31.35 and a 200 day simple moving average of $29.43. First Trust Emerging Markets AlphaDEX Fund has a 12-month low of $23.40 and a 12-month high of $33.77.

First Trust Emerging Markets AlphaDEX Fund Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were given a $0.0334 dividend. This represents a $0.13 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Thursday, March 26th.

Hedge Funds Weigh In On First Trust Emerging Markets AlphaDEX Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FEM. Smartleaf Asset Management LLC raised its stake in First Trust Emerging Markets AlphaDEX Fund by 371.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 939 shares of the company’s stock worth $26,000 after acquiring an additional 740 shares during the last quarter. Signature Equity Partners LLC raised its stake in First Trust Emerging Markets AlphaDEX Fund by 64.0% in the 1st quarter. Signature Equity Partners LLC now owns 894 shares of the company’s stock worth $27,000 after acquiring an additional 349 shares during the last quarter. Sound Income Strategies LLC purchased a new position in First Trust Emerging Markets AlphaDEX Fund in the 4th quarter worth $45,000. Geneos Wealth Management Inc. raised its position in First Trust Emerging Markets AlphaDEX Fund by 26.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,930 shares of the company’s stock worth $47,000 after buying an additional 408 shares during the last quarter. Finally, Parallel Advisors LLC purchased a new position in First Trust Emerging Markets AlphaDEX Fund during the 1st quarter worth approximately $59,000.

About First Trust Emerging Markets AlphaDEX Fund

The First Trust Emerging Markets AlphaDEX Fund (FEM) is an exchange-traded fund that is based on the NASDAQ AlphaDEX EM index. The fund tracks an index of emerging markets companies selected using a quantitative methodology and weighted in tiers. FEM was launched on Apr 18, 2011 and is managed by First Trust.