First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) Hits New 1-Year High - Still a Buy?

Key Points

• FNX reached a new 52-week high, trading as high as $146.78 and last at $146.922, up 1.6% from the prior close. Its 50-day and 200-day moving averages were $142.82 and $137.18, respectively.
• The ETF paid a quarterly dividend of $0.266, equivalent to $1.06 annually and a 0.7% yield. It has a market capitalization of approximately $1.41 billion, a P/E ratio of 14.19, and a beta of 1.05.
• Several institutional investors recently initiated or increased positions in FNX. The fund tracks a tiered equal-weighted index of U.S. mid-cap stocks selected using growth and value criteria.

Shares of First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX - ) hit a new 52-week high during trading on Tuesday . The company traded as high as $146.78 and last traded at $146.9220, with a volume of 5893 shares. The stock had previously closed at $144.99.

First Trust Mid Cap Core AlphaDEX Fund Stock Up 1.6%

The firm's fifty day moving average is $142.82 and its two-hundred day moving average is $137.18. The firm has a market cap of $1.41 billion, a P/E ratio of 14.19 and a beta of 1.05.

First Trust Mid Cap Core AlphaDEX Fund Cuts Dividend

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

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

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ascentis Independent Advisors purchased a new stake in First Trust Mid Cap Core AlphaDEX Fund in the first quarter worth about $31,000. Russell Investments Group Ltd. grew its holdings in shares of First Trust Mid Cap Core AlphaDEX Fund by 5,077.8% during the 3rd 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 shares of First Trust Mid Cap Core AlphaDEX Fund during the 4th quarter worth approximately $92,000. Parallel Advisors LLC raised its position in shares of First Trust Mid Cap Core AlphaDEX Fund by 942.6% in the 1st quarter. Parallel Advisors LLC now owns 1,053 shares of the company's stock worth $135,000 after acquiring an additional 952 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of First Trust Mid Cap Core AlphaDEX Fund in the 3rd quarter worth approximately $136,000.

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.

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