First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Sees Large Drop in Short Interest

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) saw a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 6,287 shares, a decrease of 35.7% from the August 31st total of 9,784 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,177 shares, the short-interest ratio is presently 1.5 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FNK. Cetera Investment Advisers increased 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 valued at $6,026,000 after purchasing an additional 15,551 shares during the period. RFG Advisory LLC purchased a new stake in shares of First Trust Mid Cap Value AlphaDEX Fund in the 2nd quarter worth approximately $202,000. Kestra Advisory Services LLC boosted its stake in shares of First Trust Mid Cap Value AlphaDEX Fund by 23.5% during the first quarter. Kestra Advisory Services LLC now owns 10,335 shares of the company’s stock valued at $590,000 after purchasing an additional 1,966 shares in the last quarter. Parallel Advisors LLC bought a new position in shares of First Trust Mid Cap Value AlphaDEX Fund during the first quarter valued at approximately $110,000. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of First Trust Mid Cap Value AlphaDEX Fund by 69.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,876 shares of the company’s stock valued at $160,000 after purchasing an additional 1,183 shares in the last quarter.

First Trust Mid Cap Value AlphaDEX Fund Stock Performance

Shares of FNK stock opened at $59.71 on Friday. The stock has a fifty day simple moving average of $63.40 and a two-hundred day simple moving average of $60.89. The firm has a market capitalization of $214.95 million, a PE ratio of 10.44 and a beta of 0.96. First Trust Mid Cap Value AlphaDEX Fund has a 52-week low of $51.98 and a 52-week high of $65.14.

First Trust Mid Cap Value AlphaDEX Fund Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were paid a dividend of $0.2757 per share. The ex-dividend date of this dividend was Thursday, September 24th. This is a boost 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 yield of 1.8%.

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.