First Trust Japan AlphaDEX Fund: A Significant Decline in Short Interest
The First Trust Japan AlphaDEX Fund (NASDAQ:FJP) was the target of a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 19,891 shares, a decline of 48.5% from the February 12th total of 38,611 shares. Currently, 0.6% of the shares of the company are short sold.
Based on an average trading volume of 12,829 shares, the days-to-cover ratio is currently 1.6 days. This indicates that it would take approximately 1.6 days for all short positions to be covered, given the average daily trading volume.
Hedge Funds and Institutional Investors
Several hedge funds have recently made changes to their positions in FJP. Rossby Financial LCC grew its holdings in shares of First Trust Japan AlphaDEX Fund by 32.7% during the third quarter. Rossby Financial LCC now owns 755 shares of the company’s stock worth $49,000 after buying an additional 186 shares during the last quarter.
Mariner LLC acquired a new stake in First Trust Japan AlphaDEX Fund during the 4th quarter worth approximately $217,000. Envestnet Portfolio Solutions Inc. lifted its position in First Trust Japan AlphaDEX Fund by 5.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,379 shares of the company’s stock worth $227,000 after acquiring an additional 182 shares during the period.
BlueChip Wealth Advisors LLC grew its stake in shares of First Trust Japan AlphaDEX Fund by 7.2% in the 3rd quarter. BlueChip Wealth Advisors LLC now owns 3,717 shares of the company’s stock valued at $242,000 after purchasing an additional 249 shares during the last quarter. Finally, FSB Premier Wealth Management Inc. grew its stake in shares of First Trust Japan AlphaDEX Fund by 8.8% in the 2nd quarter. FSB Premier Wealth Management Inc. now owns 4,130 shares of the company’s stock valued at $247,000 after purchasing an additional 333 shares during the last quarter.
Stock Performance and Valuation
NASDAQ:FJP traded down $0.76 during trading hours on Friday, reaching $71.93. 12,105 shares of the company’s stock were exchanged, compared to its average volume of 13,249. The firm has a market capitalization of $222.98 million, a price-to-earnings ratio of 10.49, and a beta of 0.59.
The company has a 50-day moving average of $74.64 and a 200-day moving average of $69.32. First Trust Japan AlphaDEX Fund has a 1-year low of $43.52 and a 1-year high of $82.45. For more information on First Trust Japan AlphaDEX Fund, including its investment strategy and holdings, please visit the NASDAQ:FJP page.
Investment Strategy and Index Tracking
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.
For investors looking to diversify their portfolios with international exposure, particularly in the Japanese market, the First Trust Japan AlphaDEX Fund can be a viable option. It’s essential to conduct thorough research and consider factors such as the fund’s performance, fees, and investment objectives before making any investment decisions. Additionally, investors can explore other Japanese equities and exchange-traded funds to find the best fit for their investment strategies.