First Trust, the sixth-largest U.S. issuer of exchange traded funds, is moving another seven of its AlphaDEX ETFs to to Nasdaq from the New York Stock Exchange. The ETFs will retain the same tickers.
“Each fund will seek investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of a Nasdaq AlphaDEX® Equity Index (each, a “New Index”). Each New Index is a modified equal-dollar weighted index developed and maintained by Nasdaq that may generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX® selection methodology. Accordingly, the Funds’ Index Provider will change to Nasdaq,” according to a statement issued by Illinois-based Firsy Trust.
AlphaDEX ETFs are based “on growth factors including three, six and 12-month price appreciation, sales to price and one year sales growth, and, separately, on value factors including book value to price, cash flow to price and return on assets,” according to First Trust.
In July, First Trust announced it would move 10 of its AlphaDEX single-country ETFs to Nasdaq from the New York Stock Exchange.
The seven First Trust ETFs making the move to Nasdaq can be seen in the table below.
Table Courtesy: First Trust
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