The First Trust Emerging Markets AlphaDEX Fund (NASDAQ: FEM) experienced a notable decline in short interest during December 2023. As of December 15, short interest totaled 56,441 shares, down 28.6% from 79,044 shares reported on November 30. With an average daily trading volume of 37,876 shares, the current short-interest ratio stands at 1.5 days. This indicates that only 0.3% of the fund’s stock is currently short sold.
On December 13, shares of the First Trust Emerging Markets AlphaDEX Fund traded down by $0.16, reaching $27.35. The trading volume that day was 39,878 shares, slightly below the average volume of 55,506 shares. The fund has a market capitalization of $473.16 million, a price-to-earnings (PE) ratio of 9.20, and a beta of 0.64, reflecting its performance relative to the broader market.
Investors have noted the fund’s range in the past year, with a fifty-two week low of $19.74 and a high of $28.88. This performance, alongside the decrease in short interest, may suggest a more favorable outlook from investors regarding the fund’s potential.
Dividend Announcement
In addition to the changes in short interest, the fund recently announced a quarterly dividend of $0.2092 per share, scheduled for distribution on December 31. Stockholders on record as of December 12 will receive this dividend, which translates to an annualized dividend of $0.84 and a yield of 3.1%. The ex-dividend date is also set for December 12.
About the Fund
The First Trust Emerging Markets AlphaDEX Fund tracks an index of emerging market companies selected through a quantitative methodology. Launched on April 18, 2011, it is managed by First Trust, a firm known for its exchange-traded funds (ETFs). The fund aims to provide investors with exposure to growth opportunities in emerging markets while employing a tiered weighting strategy.
This recent drop in short interest, the upcoming dividend, and the overall performance of the First Trust Emerging Markets AlphaDEX Fund could influence investor sentiment as they evaluate potential investment strategies moving forward.
