First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) Stock Price Up 1.6% – Still a Buy?

First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX)’s share price rose 1.6% on Thursday. The stock traded as high as $138.05 and last traded at $138.03. Approximately 19,039 shares were traded during trading, a decline of 10% from the average daily volume of 21,110 shares. The stock had previously closed at $135.88.

First Trust Mid Cap Core AlphaDEX Fund Trading Down 0.9%

The company’s 50-day simple moving average is $141.33 and its 200 day simple moving average is $140.40. The stock has a market cap of $1.34 billion, a P/E ratio of 14.19 and a beta of 1.07.

First Trust Mid Cap Core AlphaDEX Fund Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were paid a dividend of $0.4106 per share. This represents a $1.64 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Thursday, September 24th. This is a positive change from First Trust Mid Cap Core AlphaDEX Fund’s previous quarterly dividend of $0.2660.

Institutional Investors Weigh In On First Trust Mid Cap Core AlphaDEX Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in First Trust Mid Cap Core AlphaDEX Fund by 4.8% during the first quarter. Royal Bank of Canada now owns 273,951 shares of the company’s stock valued at $35,132,000 after purchasing an additional 12,540 shares during the last quarter. Bank of America Corp DE increased its stake in shares of First Trust Mid Cap Core AlphaDEX Fund by 57.0% in the first quarter. Bank of America Corp DE now owns 205,567 shares of the company’s stock worth $26,362,000 after purchasing an additional 74,594 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of First Trust Mid Cap Core AlphaDEX Fund by 1.2% in the first quarter. Cetera Investment Advisers now owns 198,133 shares of the company’s stock worth $25,409,000 after purchasing an additional 2,319 shares in the last quarter. Baird Financial Group Inc. raised its position in shares of First Trust Mid Cap Core AlphaDEX Fund by 2.4% in the second quarter. Baird Financial Group Inc. now owns 160,820 shares of the company’s stock valued at $23,535,000 after purchasing an additional 3,832 shares during the period. Finally, Three Cord True Wealth Management LLC raised its position in shares of First Trust Mid Cap Core AlphaDEX Fund by 5.1% in the first quarter. Three Cord True Wealth Management LLC now owns 136,778 shares of the company’s stock valued at $17,541,000 after purchasing an additional 6,660 shares during the period.

About First Trust Mid Cap Core AlphaDEX Fund

The First Trust Mid Cap Core AlphaDEX Fund (FNX) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Mid Cap Core index. The fund tracks a tiered equal-weighted index of US mid-cap equities selected using both growth and value screens. FNX was launched on May 8, 2007 and is managed by First Trust.