Short Interest in First Trust Japan AlphaDEX Fund (NASDAQ:FJP) Drops By 68.8%

First Trust Japan AlphaDEX Fund (NASDAQ:FJP) was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 8,215 shares, a decline of 68.8% from the April 30th total of 26,291 shares. Based on an average daily volume of 7,116 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.3% of the company’s stock are short sold.

Institutional Trading of First Trust Japan AlphaDEX Fund

A number of hedge funds have recently bought and sold shares of the company. LPL Financial LLC grew its stake in shares of First Trust Japan AlphaDEX Fund by 15.4% during the 4th quarter. LPL Financial LLC now owns 240,113 shares of the company’s stock valued at $16,130,000 after purchasing an additional 32,043 shares during the period. Rathbones Group PLC boosted its holdings in shares of First Trust Japan AlphaDEX Fund by 28.8% in the third quarter. Rathbones Group PLC now owns 107,582 shares of the company’s stock worth $7,011,000 after buying an additional 24,059 shares during the last quarter. Gateway Wealth Partners LLC increased its holdings in First Trust Japan AlphaDEX Fund by 99.1% during the first quarter. Gateway Wealth Partners LLC now owns 37,752 shares of the company’s stock valued at $2,741,000 after buying an additional 18,792 shares during the last quarter. Concorde Asset Management LLC boosted its position in shares of First Trust Japan AlphaDEX Fund by 87.1% in the fourth quarter. Concorde Asset Management LLC now owns 25,327 shares of the company’s stock worth $1,701,000 after purchasing an additional 11,788 shares during the period. Finally, Cetera Investment Advisers grew its position in shares of First Trust Japan AlphaDEX Fund by 8.8% during the fourth quarter. Cetera Investment Advisers now owns 119,426 shares of the company’s stock valued at $8,022,000 after purchasing an additional 9,666 shares in the last quarter.

First Trust Japan AlphaDEX Fund Stock Performance

Shares of FJP traded up $0.37 during mid-day trading on Friday, hitting $77.99. 7,068 shares of the company traded hands, compared to its average volume of 12,540. The stock has a 50-day moving average price of $75.38 and a two-hundred day moving average price of $72.87. First Trust Japan AlphaDEX Fund has a 1 year low of $57.29 and a 1 year high of $82.45. The stock has a market cap of $253.47 million, a price-to-earnings ratio of 10.49 and a beta of 0.59.

First Trust Japan AlphaDEX Fund Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th were paid a $0.1139 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Thursday, March 26th.

About First Trust Japan AlphaDEX Fund

The First Trust Japan AlphaDEX Fund (FJP) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Japan index. The fund tracks a tiered equal-weighted index of Japanese equities selected using both growth and value screens. FJP was launched on Apr 18, 2011 and is managed by First Trust.