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First Trust Small Cap Core AlphaDEX ETFNASDAQ
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  • Wed, Sep. 21, 9:27 AM
    • First Trust RBA American Industrial Renaissance ETF (NASDAQ:AIRR) - $0.011.
    • First Trust RBA Quality Income ETF (NASDAQ:QINC) (QINC) - $0.101.
    • First Trust Dorsey Wright International Focus 5 ETF (NASDAQ:IFV) (IFV) - $0.156.
    • First Trust Dorsey Wright Focus 5 ETF (NASDAQ:FV) (FV) - $0.079.
    • First Trust Dorsey Wright Dynamic Focus 5 ETF (NASDAQ:FVC) (FVC) - $0.037.
    • First Trust Large Cap Core AlphaDEX Fund (NASDAQ:FEX) - $0.151.
    • First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) - $0.145.
    • First Trust Small Cap Core AlphaDEX Fund (NASDAQ:FYX) - $0.094.
    • Payable Sept. 30; for shareholders of record Sept. 23; ex-div Sept. 21.
    • Press Release
    | Wed, Sep. 21, 9:27 AM
  • Nov. 28, 2015, 9:42 AM
    • Looking for an edge on when it might be profitable to rotate into small-caps, Nomura quants Joe Mezrich and Adam Gould watch three factors: 1) Their cheapness relative to large-caps; 2) economic uncertainty as measured by the dispersion of earnings estimates for the S&P 500; 3) expectations for economic growth as indicated by the yield curve.
    • SInce 1980, the alignment of these factors pointed to small-cap outperformance over the subsequent three months worth an annualized average of 7.6%. Trying the strategy live for two years - long Russell 2000/short Russell 1000 when things look good for small-caps, and the opposite otherwise - has produced a 10% annualized return vs. a passive long position in small-caps which lost 5%.
    • The team's signals suggested a good three months for small caps starting in November, and it's already working - the FTSE Russell 2000 is outperforming the Russell 1000 by nearly 300 basis points this month. There's still another two months to get small.
    • Source: Bill Alpert in Barron's
    • ETFs: IWM, TZA, TNA, UWM, VB, IJR, SLY, RWJ, URTY, SCHA, TWM, RWM, SRTY, VTWO, SAA, VIOO, SDD, SBB, JKJ, RSCO, TWOK, FYX, EWRS, ZSML, LLSC, SMLL, RYRSX
    | Nov. 28, 2015, 9:42 AM | 29 Comments
  • Sep. 27, 2015, 8:59 AM
    • The $8B iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) fell 4.9% on Friday and 13% for the week - its worst weekly performance since the height of the financial panic seven years ago. Many biotech ETFs eat the same cooking - Gilead (NASDAQ:GILD), Amgen (NASDAQ:AMGN), Biogen (NASDAQ:BIIB), and Regeneron (NASDAQ:REGN) among the popular names - and FBT, XBI, and BBP fell in amounts similar to IBB.
    • The news flow was relatively quiet late in the week, but Hilary Clinton's promise Monday to clamp down on drug prices set things in negative motion for the momo sector.
    • Barron's Chris Dieterich reminds that a flood of biotech IPOs in recent years has filled the small cap universe with these highly speculative names, and biotech now makes up 7% of the iShares Russell 2000 Index (NYSEARCA:IWM). Indeed. The IWM fell 3.7% for the week, nearly tripling the decline of the S&P 500.
    • ETFs: IWM, TZA, TNA, UWM, VB, VBK, URTY, SCHA, TWM, IWO, RWM, SRTY, VTWO, RCG, JKJ, VTWG, TWOK, FYX, JKK, EWRS, ZSML, FYC, SMLL, RYRSX
    | Sep. 27, 2015, 8:59 AM | 127 Comments
  • Aug. 21, 2015, 3:51 PM
    • With the Dow, S&P 500, and Nasdaq all down about 3%, the small-cap Russell 2000 (NYSEARCA:IWM) is lower by just 0.75%.
    • The outperformance is noteworthy because it's been small caps leading on the way down - falling nearly 11% since a late-June peak, or roughly 500 basis points worse than the S&P 500.
    • ETFs: VB, VBR, EES, VBK, SCHA, RVT, JKL, RCG, JKJ, TILT, FYX, FYT, JKK, IESM, VLU, ZSML, FYC
    | Aug. 21, 2015, 3:51 PM | 6 Comments
  • Oct. 15, 2014, 3:08 PM
    | Oct. 15, 2014, 3:08 PM | 1 Comment
  • Oct. 13, 2014, 1:33 PM
    • Electronic Cigarettes International Group, Ltd. (OTCQB:ECIG) is set for its IPO of 33.3M shares of common stock at a prospective price of $4.50 per share. The firm is selling 28,443,133 shares and selling shareholders are offering 4,890,200.
    • The company markets and distributes electronic cigarettes and accessories through over 50K outlets in multiple countries.
    • Proforma 2013 financials: Revenues: $113.2M; Gross Profit: $55.5M; Operating Expenses: $48.9M; Operating Income: $6.5M; Net Loss: ($11.4M); Loss Per Share: ($0.11).
    • Proforma 1H 2014 financials: Revenues: $48.5M; Gross Profit: $26.8M; Operating Expenses: $57.9M; Operating Loss: ($31.1M); Net Loss: ($10.5M); Loss Per Share: (0.08).
    • Actual 1H 2014 financials: Revenues: $15.4M (+862.5%); Gross Profit: $8.2M (+780.1%); Operating Expenses: $92.8M (-999%); Operating Loss: ($84.6M); Net Loss: ($84.5M); Loss Per Share: ($1.23); Quick Assets: $5.6M (+166.7%); Cash Burn Ops: ($10.9M) (-999%).
    • The company expects Q3 2014 revenues to be $16M - 17M (pro forma net $22.9M - 24.3M).
    • S-1
    • ETFs: IWM, TZA, TNA, IWC, UWM, VB, IJR, SLY, RWJ, VBK, URTY, SCHA, TWM, IWO, RWM, IJT, SRTY, SAA, DWAS, VTWO, SLYG, VIOO, SDD, RZG, PZI, SBB, RSCO, FDM, JKJ, UKK, VTWG, VIOG, WMCR, FYX, EWRS, XSLV, TWOK, SKK, JKK, SMLV, PXSG, FYC, PXSC, CSF
    • ETFs: IRY, IXJ (IPO -0.5%)
    | Oct. 13, 2014, 1:33 PM | 4 Comments
  • Oct. 1, 2014, 3:52 PM
    • Today's decline in the Russell 2000 (IWM -1.4%) puts it more than 10% below the level hit in March (and in July). The index fell 6% in September alone.
    • For the year, the Russell is lower by 6.6% after gaining nearly 40% in 2013.
    • As rough as it's been, it's the divergence with large caps which looks like the bigger story - while the small caps have fallen 10% during their correction, the S&P 500 is flat, and only in the last two weeks beginning to move in lockstep with the Russell.
    • For the year, the S&P 500 is up 5.4%, about 1,200 basis points ahead of the Russell, and on a year-over-year basis, the S&P's 15% gain is 1,500 basis points faster than the Russell.
    • ETFs: IWM, TZA, TNA, UWM, VB, VBR, EES, VBK, URTY, SCHA, TWM, IWN, IWO, RWM, SRTY, VTWO, JKL, JKJ, TILT, UKK, VTWG, FYX, FYT, EWRS, TWOK, SKK, VTWV, JKK, UVT, SJH, IESM, VLU, FYC
    | Oct. 1, 2014, 3:52 PM | 4 Comments
  • Sep. 19, 2014, 2:41 PM
    • There's not  a lot of action in the large cap averages this session, but the Russell 2000 (IWM -1.1%) continues to shed ground both absolutely and relative to the S&P 500, and has now turned negative for the year - it's lower by 1.1% YTD, ceding about 1000 basis points to the S&P,
    • Maybe bearish, but probably bullish for those with a contrarian streak, technicians are starting to warn about the dreaded "Death Cross" - the 50-day moving average moving below the 200-day moving average. Ryan Detrick points out 19 instances since 1988 where the Russell 2000 has completed a Death Cross - it's tended to be bearish in the very short-term, but bullish over longer periods.
    • ETFs: IWM, TZA, TNA, IWC, UWM, VB, IJR, SLY, RWJ, URTY, SCHA, TWM, RWM, SRTY, SAA, DWAS, VTWO, VIOO, SDD, SBB, PZI, FDM, JKJ, RSCO, WMCR, XSLV, FYX, EWRS, TWOK, SMLV, PXSC, CSF
    | Sep. 19, 2014, 2:41 PM | 5 Comments
  • Jul. 31, 2014, 7:24 AM
    • S&P 500 and DJIA futures are off 0.5%, Nasdaq 100 0.6% and Russell 2000 0.9%, with 51 of S&P 500 companies reporting Q2 results today, including Exxon Mobil, MasterCard, Colgate, and Time Warner.
    • Whole Foods, Kraft, and Yum Brands are among those who reported last night and are in the red premarket.
    • Europe's Stoxx 50 (NYSEARCA:FEZ) is down 0.9% and Shanghai continued to push higher, closing up 1% overnight.
    • The 10-year Treasury yield is flat at 2.56% and gold is flat at $1,297 per ounce.
    • ETFs: SPY, QQQ, SH, DIA, SSO, SDS, VOO, PSQ, IVV, SPXU, UPRO, TQQQ, VB, SPXL, QID, RSP, SQQQ, DOG, QLD, DXD, RWL, EPS, UDOW, SCHA, SDOW, DDM, BXUB, QQEW, QQQE, SPLX, SFLA, QQXT, BXUC, JKJ, FYX, SPUU
    | Jul. 31, 2014, 7:24 AM | 8 Comments
  • Jul. 25, 2014, 2:31 PM
    | Jul. 25, 2014, 2:31 PM | 11 Comments
  • Jul. 7, 2014, 1:45 PM
    | Jul. 7, 2014, 1:45 PM | 4 Comments
  • Jun. 6, 2014, 3:03 PM
    | Jun. 6, 2014, 3:03 PM | 1 Comment
  • May 20, 2014, 4:37 PM
    • Chicago-based Good Harbor Financial is among the largest ETF portfolio managers and the company in May began to rebalance its $11B U.S. Tactical Core Strategy twice a month instead of once - today marks the first mid-month trade for the portfolio, reports the WSJ.
    • Good Harbor's main strategy today, says the Journal, looked to be selling small caps as well as two ETFs tied to the S&P 500 (SPY -0.7%), and volume spiked in the iShares Russell 2000 ETF (IWM -1.6%), the ProShares Ultra Russell 2000 (UWM -3%), the iShares Core S&P 500 ETF (IVV -0.7%) and the ProShares Ultra S&P 500 (SSO -1.5%).
    • Good Harbors was the largest single holder of three of those funds as of the end of March, and the 2nd largest holder of the fourth.
    • As it sold the equity ETFs, Good Harbors appeared to be buying two mid-to-long-dated Treasury bond ETFs, the iShares 7-10 Year Treasury Bond Fund (IEF +0.3%) and the ProShares Ultra 7-10 Year Treasury ETF (UST +0.7%), with both having volumes many multiples higher than normal.
    • Good Harbors was also a seller of small caps and a buyer of Treasurys in early May, says the Journal, which earlier this year reported traders growing accustomed to waiting for the firm's monthly rebalance.
    • ETFs: IWM, IJS, TZA, TNA, UWM, VB, IJR, SLY, EES, VBR, RWJ, VBK, URTY, SCHA, TWM, IWO, IWN, IJT, RWM, SRTY, DWAS, SAA, VTWO, JKL, RZV, SLYG, SLYV, VIOO, SDD, SBB, RZG, JKJ, RSCO, VTWG, UKK, VIOG, TILT, FYX, FNDA, VIOV, XSLV, FYT, SKK, JKK, EWRS, TWOK, PXSV, VTWV, SMLV, UVT, SJH, PXSC, IESM, FYC, VLU, PXSG
    | May 20, 2014, 4:37 PM | 3 Comments
  • May 20, 2014, 10:06 AM
    | May 20, 2014, 10:06 AM | 3 Comments
  • May 15, 2014, 12:40 PM
    • Coming in the same week when the Dow and S&P 500 hit new record highs, the Russell 2000 (IWM -1.6%) today tumbled into correction territory, now off 10.2% since its record high hit on March 4.
    • The Dow (DIA -1%) and S&P (SPY -1.2%) haven't suffered a correction since 2011 H2, though the Nasdaq fell into correction in November 2012 (the tech index fell nearly 10% from March through mid-April this year, but bounced).
    • The question at hand is whether the large-cap averages will follow the Russell. or continue to go their own way to new records.
    • Small-cap ETFs: IWM, TZA, TNA, UWM, VB, IJR, SLY, RWJ, URTY, SCHA, TWM, RWM, SRTY, DWAS, SAA, VTWO, VIOO, SDD, SBB, JKJ, RSCO, FYX, XSLV, EWRS, TWOK, SMLV, PXSC
    | May 15, 2014, 12:40 PM | 2 Comments
  • May 14, 2014, 11:20 AM
    | May 14, 2014, 11:20 AM | 16 Comments
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