First Trust Europe AlphaDEX Fund (NASDAQ:FEP) Sees Large Volume Increase – Still a Buy?

Shares of First Trust Europe AlphaDEX Fund (NASDAQ:FEP) saw unusually-high trading volume on Tuesday . Approximately 34,142 shares changed 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 Stock Down 1.1%

The firm has a 50 day simple moving average of $58.54 and a 200-day simple moving average of $56.48. The stock has a market cap of $510.91 million, a P/E ratio of -87.47 and a beta of 0.89.

First Trust Europe AlphaDEX Fund Cuts Dividend

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

Institutional Investors Weigh In On First Trust Europe AlphaDEX Fund

Hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp increased its holdings in shares of First Trust Europe AlphaDEX Fund by 199.0% in the first quarter. Jones Financial Companies Lllp now owns 1,818 shares of the company’s stock valued at $74,000 after purchasing an additional 1,210 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of First Trust Europe AlphaDEX Fund by 165.4% during the 1st quarter. Jane Street Group LLC now owns 39,786 shares of the company’s stock worth $1,624,000 after buying an additional 24,794 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of First Trust Europe AlphaDEX Fund by 48.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,930 shares of the company’s stock worth $92,000 after buying an additional 630 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of First Trust Europe AlphaDEX Fund by 1,296.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,853 shares of the company’s stock worth $184,000 after buying an additional 3,577 shares during the period. Finally, NewEdge Advisors LLC bought a new stake in shares of First Trust Europe AlphaDEX Fund during the 2nd quarter worth about $51,000.

First Trust Europe AlphaDEX Fund Company Profile

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.