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) recently achieved a significant milestone by reaching a new 52-week high on Friday. The stock surged to an intraday peak of $148.28 before settling at $148.13, with a trading volume of 4,198 shares. Prior to this increase, the stock had closed at $147.43 the previous day.

First Trust Large Cap Growth AlphaDEX Fund Experiences Slight Increase

This fund boasts a market capitalization of $1.21 billion and comes with a price-to-earnings ratio of 21.72. In terms of volatility, it has a beta of 1.04. Additionally, the fund's 50-day moving average is priced at $136.79, while its 200-day moving average stands at $127.72.

Fund Announces Dividend Increase

In a positive development for investors, the First Trust Large Cap Growth AlphaDEX Fund has also declared an increase in its quarterly dividend. The latest dividend payment was made on September 30th, with shareholders on record as of September 26th receiving a dividend of $0.0999 per share. This marks an improvement from the previous quarterly dividend of $0.05, representing an annualized dividend of $0.40 and a yield of 0.27%.

Interest from Hedge Funds

Recently, hedge funds and institutional investors have shown increased activity regarding the First Trust Large Cap Growth AlphaDEX Fund. For instance, Apollon Wealth Management LLC enhanced its stake by 1.5% in the second quarter, bringing its total to 16,905 shares valued at approximately $2,071,000 after acquiring an additional 256 shares. Similarly, RFG Advisory LLC increased its holdings by 4.4%, now owning 3,955 shares valued at $485,000 following the acquisition of 167 additional shares. Other funds, such as Fifth Third Securities Inc., HFG Advisors Inc., and Park Avenue Securities LLC, have also expanded their investments, indicating a growing confidence in this fund.

Overview of First Trust Large Cap Growth AlphaDEX Fund

The First Trust Large Cap Growth AlphaDEX Fund aims to reflect the investment results that correlate to the price and yield of the Defined Large Cap Growth Index.

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