First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) Reaches New 52-Week High - Here's What Happened

Key Points

• First Trust Mid Cap Core AlphaDEX Fund (FNX) hit a new 52-week high, trading as high as $140.66 (last $140.31) on Wednesday, after closing previously at $139.32 on light volume of 2,589 shares.
• The fund declared and paid a quarterly dividend of $0.3141 per share on March 31 (ex-dividend March 26), equal to a $1.26 annualized payout and a 0.9% yield.
• Institutional ownership rose recently, with Northwestern Mutual boosting its stake by 1,910% to 1,392,336 shares (~$175.4M); Morgan Stanley, LPL, Wells Fargo and UBS also increased their holdings.

First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX - ) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $140.66 and last traded at $140.31, with a volume of 2589 shares changing hands. The stock had previously closed at $139.32.

First Trust Mid Cap Core AlphaDEX Fund Price Performance

The company's 50 day moving average price is $132.46 and its 200 day moving average price is $130.08. The firm has a market capitalization of $1.35 billion, a P/E ratio of 14.19 and a beta of 1.07.

First Trust Mid Cap Core AlphaDEX Fund Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th were paid a dividend of $0.3141 per share. This represents a $1.26 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, March 26th.

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

Several hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in First Trust Mid Cap Core AlphaDEX Fund by 1,910.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,392,336 shares of the company's stock valued at $175,406,000 after acquiring an additional 1,323,065 shares during the last quarter. Morgan Stanley boosted its holdings in First Trust Mid Cap Core AlphaDEX Fund by 0.5% in the fourth quarter. Morgan Stanley now owns 1,050,519 shares of the company's stock valued at $132,340,000 after acquiring an additional 5,458 shares during the last quarter. LPL Financial LLC boosted its holdings in First Trust Mid Cap Core AlphaDEX Fund by 5.5% in the fourth quarter. LPL Financial LLC now owns 934,661 shares of the company's stock valued at $117,744,000 after acquiring an additional 48,416 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in First Trust Mid Cap Core AlphaDEX Fund by 1.9% in the fourth quarter. Wells Fargo & Company MN now owns 679,379 shares of the company's stock valued at $85,585,000 after acquiring an additional 12,936 shares during the last quarter. Finally, UBS Group AG boosted its holdings in First Trust Mid Cap Core AlphaDEX Fund by 1.3% in the fourth quarter. UBS Group AG now owns 217,783 shares of the company's stock valued at $27,435,000 after acquiring an additional 2,726 shares during the last quarter.

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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