Short Interest in First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) Declines By 43.7%

First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) saw a significant drop in short interest in June. As of June 15th, there was short interest totaling 22,383 shares, a drop of 43.7% from the May 31st total of 39,743 shares. Based on an average daily volume of 17,335 shares, the short-interest ratio is currently 1.3 days. Currently, 0.2% of the company’s stock are sold short.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ascentis Independent Advisors bought a new position in shares of First Trust Mid Cap Core AlphaDEX Fund in the first quarter valued at approximately $31,000. Russell Investments Group Ltd. lifted its holdings in First Trust Mid Cap Core AlphaDEX Fund by 5,077.8% during the third quarter. Russell Investments Group Ltd. now owns 466 shares of the company’s stock worth $58,000 after acquiring an additional 457 shares during the period. MidFirst Bank purchased a new position in First Trust Mid Cap Core AlphaDEX Fund in the fourth quarter worth $92,000. Parallel Advisors LLC boosted its position in First Trust Mid Cap Core AlphaDEX Fund by 942.6% in the first quarter. Parallel Advisors LLC now owns 1,053 shares of the company’s stock worth $135,000 after purchasing an additional 952 shares during the last quarter. Finally, Advisory Services Network LLC bought a new position in First Trust Mid Cap Core AlphaDEX Fund in the 3rd quarter valued at $136,000.

First Trust Mid Cap Core AlphaDEX Fund Stock Down 0.6%

First Trust Mid Cap Core AlphaDEX Fund stock traded down $0.94 during midday trading on Wednesday, hitting $145.41. 8,661 shares of the stock were exchanged, compared to its average volume of 26,639. First Trust Mid Cap Core AlphaDEX Fund has a 52-week low of $113.65 and a 52-week high of $146.75. The business’s 50-day moving average price is $140.11 and its 200-day moving average price is $134.72. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 14.19 and a beta of 1.06.

First Trust Mid Cap Core AlphaDEX Fund Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were given a dividend of $0.266 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $1.06 annualized dividend and a dividend yield of 0.7%.

First Trust Mid Cap Core AlphaDEX Fund Company Profile

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.