Short Interest in First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Drops By 8.8%

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 10,300 shares, a decrease of 8.8% from the September 15th total of 11,300 shares. Based on an average daily volume of 10,500 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 95.1% during the second quarter. GAMMA Investing LLC now owns 1,816 shares of the company’s stock valued at $93,000 after buying an additional 885 shares during the last quarter. PCG Wealth Advisors LLC bought a new stake in First Trust Mid Cap Value AlphaDEX Fund in the first quarter worth $238,000. Jaffetilchin Investment Partners LLC purchased a new position in shares of First Trust Mid Cap Value AlphaDEX Fund during the 1st quarter worth about $256,000. Daymark Wealth Partners LLC purchased a new position in shares of First Trust Mid Cap Value AlphaDEX Fund during the second quarter valued at approximately $282,000. Finally, Cetera Advisors LLC boosted its holdings in First Trust Mid Cap Value AlphaDEX Fund by 26.9% during the 1st quarter. Cetera Advisors LLC now owns 9,718 shares of the company’s stock valued at $526,000 after acquiring an additional 2,062 shares during the period.

First Trust Mid Cap Value AlphaDEX Fund Stock Performance

Shares of FNK stock traded up $0.03 during mid-day trading on Thursday, hitting $55.15. The company’s stock had a trading volume of 17,512 shares, compared to its average volume of 16,515. The stock has a market cap of $223.36 million, a price-to-earnings ratio of 10.86 and a beta of 1.29. First Trust Mid Cap Value AlphaDEX Fund has a 52-week low of $41.61 and a 52-week high of $56.14. The business has a 50-day moving average price of $53.48 and a 200 day moving average price of $52.60.

First Trust Mid Cap Value AlphaDEX Fund Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 26th were issued a dividend of $0.2554 per share. This represents a $1.02 annualized dividend and a dividend yield of 1.85%. This is a boost from First Trust Mid Cap Value AlphaDEX Fund’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, September 26th.

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.