Short Interest in First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Declines By 22.4%

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) was the recipient of a large drop in short interest during the month of December. As of December 15th, there was short interest totaling 16,119 shares, a drop of 22.4% from the November 30th total of 20,771 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average daily volume of 4,291 shares, the days-to-cover ratio is presently 3.8 days. Based on an average daily volume of 4,291 shares, the days-to-cover ratio is presently 3.8 days. Currently, 0.5% of the shares of the company are short sold.

First Trust Mid Cap Value AlphaDEX Fund Stock Up 0.1%

NASDAQ FNK traded up $0.03 on Tuesday, hitting $56.23. The stock had a trading volume of 7,468 shares, compared to its average volume of 12,868. The company’s 50-day moving average is $54.78 and its two-hundred day moving average is $54.30. First Trust Mid Cap Value AlphaDEX Fund has a one year low of $42.68 and a one year high of $57.35. The stock has a market cap of $199.63 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 declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th will be given a dividend of $0.2872 per share. This is a boost from First Trust Mid Cap Value AlphaDEX Fund’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, December 12th. This represents a $1.15 dividend on an annualized basis and a yield of 2.0%.

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

Institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. acquired a new position in First Trust Mid Cap Value AlphaDEX Fund during the 3rd quarter valued at about $31,000. Citadel Advisors LLC raised its holdings in First Trust Mid Cap Value AlphaDEX Fund by 53.7% during the third quarter. Citadel Advisors LLC now owns 44,666 shares of the company’s stock worth $2,468,000 after purchasing an additional 15,610 shares in the last quarter. Raymond James Financial Inc. lifted its position in First Trust Mid Cap Value AlphaDEX Fund by 14.1% in the third quarter. Raymond James Financial Inc. now owns 57,914 shares of the company’s stock worth $3,200,000 after purchasing an additional 7,175 shares during the period. Equitable Holdings Inc. boosted its stake in First Trust Mid Cap Value AlphaDEX Fund by 2.2% during the 3rd quarter. Equitable Holdings Inc. now owns 18,464 shares of the company’s stock valued at $1,020,000 after purchasing an additional 406 shares in the last quarter. Finally, Founders Financial Alliance LLC acquired a new position in shares of First Trust Mid Cap Value AlphaDEX Fund during the 3rd quarter valued at $160,000.

First Trust Mid Cap Value AlphaDEX Fund Company Profile

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.