First Trust Small Cap Value AlphaDEX Fund (NASDAQ: FYT)

Latest news for First Trust Small Cap Value AlphaDEX Fund (NASDAQ:FYT)

First Trust Small Cap Value AlphaDEX Fund

Financial Services

Consumer Cyclical

Industrials

Real Estate

Consumer Defensive

Energy

Communication Services

Technology

Utilities

Other

Healthcare

Basic Materials

The Fund will normally invest at least 90 percent of its net assets (including investment borrowings) in the securities that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Index is owned and is developed, maintained and sponsored by Nasdaq, Inc. (the Index Provider). The Index Provider may, from time to time, exercise reasonable discretion as it deems appropriate in order to maintain Index integrity.

Hawaiian Electric Industries Inc

Cable One Inc

PROG Holdings Inc.

Customers Bancorp Inc

La-z-boy Inc

Century Communities Inc

Weis Markets Inc

Innoviva Inc

Hudson Pacific Properties Inc

Avista

Pursue Passions

Equities

News

Small Cap

Legal

Movers

Media

CHTR

IFRA

Hawaiian Electric Industries&#39; shares surge on news of a $4 billion settlement plan for last year&#39;s Maui wildfires. Approval pending, could still fall through.

Why Hawaiian Electric Industries Shares Are Rocketing Today

Hawaiian Electric Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HE#NYSE">HE</a>) shares are surging today following a report suggesting the company reached a settlement plan over the Maui wildfires.



Hawaiian Electric Industries is among the companies that have tentatively agreed to pay over $4 billion to resolve hundreds of lawsuits, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-07-18/hawaiian-electric-among-firms-eyeing-4-billion-maui-fire-deal?sref=TBDibEcD" rel="noreferrer noopener">Bloomberg </a>reported, citing people familiar with the deal.



Hawaiian Electric is responsible for roughly $1.5 billion of the settlement, with the shares of other companies still being determined. The settlement is set to be paid out over four years, the report further noted.



The proposed settlement, pending final approval, aims to resolve lawsuits from thousands of homeowners and businesses against Hawaiian Electric.



The tentative settlement also includes a Charter Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) unit and state and local governments.



However, the deal is not yet final and could still fall through, as per the report.



The proposed settlement is less than the estimated $5.5 billion capital cost from the fires, which damaged or destroyed 2,207 structures, mostly residential, according to last year&#8217;s damage assessment.



Investors can gain exposure to the stock via&nbsp;IShares U.S. Infrastructure ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IFRA#BATS">IFRA</a>) and First Trust Small Cap Value AlphaDEX Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FYT#NASDAQ">FYT</a>).



Price Action: HE shares are up 32.9% at $16.94 at the last check Friday.



Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Image via Shutterstock

Comments

First Trust Small Cap Value AlphaDEX Fund

News

Latest news for First Trust Small Cap Value AlphaDEX Fund (NASDAQ:FYT)

Friday, July 19, 2024

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga