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

by · The Markets Daily

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK – Get Free Report) was the target of a large growth in short interest in October. As of October 15th, there was short interest totalling 13,200 shares, a growth of 28.2% from the September 30th total of 10,300 shares. Based on an average daily volume of 9,800 shares, the short-interest ratio is currently 1.3 days.

First Trust Mid Cap Value AlphaDEX Fund Stock Down 0.7 %

FNK stock opened at $53.65 on Wednesday. The stock has a 50-day simple moving average of $53.78 and a two-hundred day simple moving average of $52.67. First Trust Mid Cap Value AlphaDEX Fund has a twelve month low of $41.64 and a twelve month high of $56.14. The firm has a market capitalization of $217.26 million, a PE ratio of 10.86 and a beta of 1.29.

First Trust Mid Cap Value AlphaDEX Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 26th were issued a dividend of $0.2554 per share. This represents a $1.02 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Thursday, September 26th. This is a positive change from First Trust Mid Cap Value AlphaDEX Fund’s previous quarterly dividend of $0.21.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FNK. PCG Wealth Advisors LLC bought a new stake in shares of First Trust Mid Cap Value AlphaDEX Fund during the 1st quarter valued at about $238,000. Commonwealth Equity Services LLC boosted its stake in shares of First Trust Mid Cap Value AlphaDEX Fund by 4.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 36,907 shares of the company’s stock valued at $1,998,000 after purchasing an additional 1,505 shares in the last quarter. Kingsview Wealth Management LLC boosted its stake in shares of First Trust Mid Cap Value AlphaDEX Fund by 6.8% in the 1st quarter. Kingsview Wealth Management LLC now owns 57,991 shares of the company’s stock valued at $3,140,000 after purchasing an additional 3,705 shares in the last quarter. Jaffetilchin Investment Partners LLC bought a new position in shares of First Trust Mid Cap Value AlphaDEX Fund during the 1st quarter valued at $256,000. Finally, Cetera Advisors LLC raised its position in First Trust Mid Cap Value AlphaDEX Fund by 26.9% in the 1st quarter. Cetera Advisors LLC now owns 9,718 shares of the company’s stock worth $526,000 after purchasing an additional 2,062 shares during the period.

First Trust Mid Cap Value AlphaDEX Fund Company Profile

(Get Free Report)

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.

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