First Trust Large Cap Growth AlphaDEX Fund (NASDAQ:FTC) Reaches New 1-Year High - Here's What Happened

The First Trust Large Cap Growth AlphaDEX Fund (NASDAQ:FTC) reached a new 52-week high on Friday, marking a significant milestone for the fund. The stock climbed to an impressive price of $148.28 before settling at $148.13. During the trading session, a total volume of 4,198 shares changed hands, while the stock had closed at $147.43 the previous day.

First Trust Large Cap Growth AlphaDEX Fund Trading Up 0.6%

This achievement in the stock price reflects a 0.6% increase, contributing to the fund's overall market capitalization, which stands at $1.21 billion. The fund currently has a price-to-earnings ratio of 21.72 and a beta value of 1.04, indicating its volatility relative to the market. Its 50-day moving average is recorded at $136.79, while the 200-day moving average sits at $127.72.

First Trust Large Cap Growth AlphaDEX Fund Increases Dividend

In addition to the market performance, the fund recently announced an increase in its quarterly dividend. The dividend, which was paid on September 30th, amounted to $0.0999 per share for shareholders on record as of September 26th. This increase from the previous dividend of $0.05 signifies a positive shift, leading to an annualized dividend of $0.40 and a yield of 0.27%.

Hedge Funds Weigh In On First Trust Large Cap Growth AlphaDEX Fund

In recent months, institutional investors and hedge funds have been actively trading shares in the First Trust Large Cap Growth AlphaDEX Fund. For instance, Apollon Wealth Management LLC raised its stake by 1.5% during the second quarter, acquiring an additional 256 shares, bringing their total to 16,905 shares valued at approximately $2.071 million. Similarly, RFG Advisory LLC increased its position by 4.4%, adding 167 shares, while Fifth Third Securities Inc. initiated a new investment worth about $1.156 million. Other investment firms, such as HFG Advisors Inc. and Park Avenue Securities LLC, have also increased their holdings in the fund, demonstrating significant interest from the investment community.

About First Trust Large Cap Growth AlphaDEX Fund

The First Trust Large Cap Growth AlphaDEX Fund, previously known as the First Trust Large Cap Growth Opportunities AlphaDEX Fund, operates as an exchange-traded fund. Its main investment goal is to achieve results that closely follow the performance and yield of the Defined Large Cap Growth Index, providing investors with a gateway to large-cap growth stocks.

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