First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Short Interest Update

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) was the target of a large decrease in short interest in the month of January. As of January 30th, there was short interest totaling 11,463 shares, a decrease of 32.2% from the January 15th total of 16,898 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 6,471 shares, the days-to-cover ratio is currently 1.8 days. Based on an average daily trading volume, of 6,471 shares, the days-to-cover ratio is currently 1.8 days. Approximately 0.3% of the shares of the stock are short sold.

First Trust Mid Cap Value AlphaDEX Fund Stock Performance

Shares of FNK stock traded up $0.75 on Friday, reaching $60.77. 3,892 shares of the company were exchanged, compared to its average volume of 7,853. First Trust Mid Cap Value AlphaDEX Fund has a 1 year low of $42.68 and a 1 year high of $61.27. The business has a 50-day moving average price of $57.83 and a 200 day moving average price of $55.68. The company has a market cap of $218.77 million, a price-to-earnings ratio of 10.44 and a beta of 1.08.

First Trust Mid Cap Value AlphaDEX Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 12th were issued a dividend of $0.2872 per share. The ex-dividend date of this dividend was Friday, December 12th. This is a positive change from First Trust Mid Cap Value AlphaDEX Fund’s previous quarterly dividend of $0.20. This represents a $1.15 dividend on an annualized basis and a dividend yield of 1.9%.

Hedge Funds Weigh In On First Trust Mid Cap Value AlphaDEX Fund

Hedge funds and other institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of First Trust Mid Cap Value AlphaDEX Fund in the third quarter valued at approximately $31,000. Sound Income Strategies LLC acquired a new position in First Trust Mid Cap Value AlphaDEX Fund during the fourth quarter worth $58,000. Geneos Wealth Management Inc. grew its holdings in First Trust Mid Cap Value AlphaDEX Fund by 200.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $124,000 after buying an additional 1,600 shares in the last quarter. Founders Financial Alliance LLC acquired a new stake in shares of First Trust Mid Cap Value AlphaDEX Fund in the 3rd quarter worth $160,000. Finally, Dynamic Advisor Solutions LLC acquired a new stake in shares of First Trust Mid Cap Value AlphaDEX Fund in the 3rd quarter worth $202,000.

About First Trust Mid Cap Value AlphaDEX Fund

The First Trust Mid Cap Value AlphaDEX Fund (FNK) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Mid Cap Value index. The fund tracks a mid-cap index that selects value stocks using quant methodology and applies an equal-tiered weighting scheme. FNK was launched on Apr 18, 2011 and is managed by First Trust.