First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Stock Short Interest Drops 85.2%

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 931 shares, a decline of 85.2% from the September 15th total of 6,287 shares. Based on an average daily volume of 7,040 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are sold short.

First Trust Mid Cap Value AlphaDEX Fund Trading Down 0.2%

First Trust Mid Cap Value AlphaDEX Fund stock traded down $0.15 during trading hours on Friday, reaching $60.27. 12,497 shares of the company were exchanged, compared to its average volume of 7,624. First Trust Mid Cap Value AlphaDEX Fund has a 12 month low of $51.98 and a 12 month high of $65.14. The stock has a 50-day moving average of $62.98 and a 200 day moving average of $61.05. The firm has a market cap of $216.97 million, a price-to-earnings ratio of 10.44 and a beta of 0.97.

First Trust Mid Cap Value AlphaDEX Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were paid a $0.2757 dividend. The ex-dividend date was Thursday, September 24th. This is a positive change from First Trust Mid Cap Value AlphaDEX Fund’s previous quarterly dividend of $0.1676. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.8%.

Institutional Trading of First Trust Mid Cap Value AlphaDEX Fund

Several large investors have recently modified their holdings of FNK. Kestra Advisory Services LLC raised its holdings in First Trust Mid Cap Value AlphaDEX Fund by 23.5% in the 1st quarter. Kestra Advisory Services LLC now owns 10,335 shares of the company’s stock worth $590,000 after acquiring an additional 1,966 shares during the period. Cetera Investment Advisers lifted its position in First Trust Mid Cap Value AlphaDEX Fund by 17.3% during the 1st quarter. Cetera Investment Advisers now owns 105,572 shares of the company’s stock worth $6,026,000 after acquiring an additional 15,551 shares during the last quarter. RFG Advisory LLC acquired a new position in First Trust Mid Cap Value AlphaDEX Fund during the 2nd quarter worth $202,000. Parallel Advisors LLC acquired a new position in First Trust Mid Cap Value AlphaDEX Fund during the 1st quarter worth $110,000. Finally, Bessemer Group Inc. bought a new stake in First Trust Mid Cap Value AlphaDEX Fund during the first quarter valued at about $26,000.

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.