First Trust Europe AlphaDEX Fund (NASDAQ:FEP) Trading Up 1.7% – Still a Buy?

First Trust Europe AlphaDEX Fund (NASDAQ:FEP)’s stock price shot up 1.7% during mid-day trading on Thursday . The company traded as high as $37.88 and last traded at $37.83. 11,317 shares traded hands during trading, a decline of 34% from the average session volume of 17,083 shares. The stock had previously closed at $37.18.

First Trust Europe AlphaDEX Fund Stock Up 1.7 %

The company’s 50-day moving average price is $38.19 and its 200-day moving average price is $38.12. The firm has a market cap of $204.28 million, a price-to-earnings ratio of -57.32 and a beta of 1.09.

First Trust Europe AlphaDEX Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 26th were paid a $0.2959 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.18 annualized dividend and a dividend yield of 3.13%. First Trust Europe AlphaDEX Fund’s dividend payout ratio (DPR) is -257.58%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. boosted its stake in shares of First Trust Europe AlphaDEX Fund by 1.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 25,892 shares of the company’s stock valued at $953,000 after buying an additional 305 shares during the period. Concurrent Investment Advisors LLC lifted its stake in First Trust Europe AlphaDEX Fund by 4.4% in the third quarter. Concurrent Investment Advisors LLC now owns 11,027 shares of the company’s stock worth $429,000 after acquiring an additional 464 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in First Trust Europe AlphaDEX Fund by 6.6% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 8,191 shares of the company’s stock worth $302,000 after acquiring an additional 508 shares in the last quarter. Atria Wealth Solutions Inc. increased its position in shares of First Trust Europe AlphaDEX Fund by 2.2% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 23,731 shares of the company’s stock valued at $874,000 after purchasing an additional 521 shares during the last quarter. Finally, Park Avenue Securities LLC raised its holdings in shares of First Trust Europe AlphaDEX Fund by 3.7% in the 2nd quarter. Park Avenue Securities LLC now owns 15,489 shares of the company’s stock valued at $570,000 after purchasing an additional 547 shares in the last quarter.

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.