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

Key Points

• First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) experienced a significant increase in short interest, rising by 1,200.0% in September, bringing the total to 1,300 shares.
• Institutional investors are actively trading FNX, with GAMMA Investing LLC increasing its stake by 10,798.0% and several others purchasing significant positions in the second quarter.
• The fund recently declared a quarterly dividend of $0.1937, which is set to be paid on September 30th, reflecting a yield of 0.6%.

First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX - ) was the target of a large growth in short interest in September. As of September 15th, there was short interest totaling 1,300 shares, a growth of 1,200.0% from the August 31st total of 100 shares. Based on an average daily volume of 19,100 shares, the short-interest ratio is currently 0.1 days. Based on an average daily volume of 19,100 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On First Trust Mid Cap Core AlphaDEX Fund

Several institutional investors have recently bought and sold shares of FNX. GAMMA Investing LLC lifted its stake in First Trust Mid Cap Core AlphaDEX Fund by 10,798.0% in the 1st quarter. GAMMA Investing LLC now owns 101,024 shares of the company's stock valued at $11,010,000 after acquiring an additional 100,097 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in First Trust Mid Cap Core AlphaDEX Fund in the 2nd quarter valued at approximately $7,460,000. McElhenny Sheffield Capital Management LLC bought a new stake in First Trust Mid Cap Core AlphaDEX Fund in the 2nd quarter valued at approximately $5,857,000. FSM Wealth Advisors LLC acquired a new position in shares of First Trust Mid Cap Core AlphaDEX Fund during the 2nd quarter worth approximately $2,488,000. Finally, NBC Securities Inc. increased its position in shares of First Trust Mid Cap Core AlphaDEX Fund by 101,833.3% during the 1st quarter. NBC Securities Inc. now owns 12,232 shares of the company's stock worth $1,333,000 after purchasing an additional 12,220 shares during the last quarter.

First Trust Mid Cap Core AlphaDEX Fund Trading Up 0.3%

Shares of NASDAQ:FNX traded up $0.37 during trading on Tuesday, hitting $125.49. 10,797 shares of the company's stock traded hands, compared to its average volume of 27,840. First Trust Mid Cap Core AlphaDEX Fund has a 52 week low of $93.19 and a 52 week high of $127.98. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 14.19 and a beta of 1.20. The company has a 50-day moving average price of $121.79 and a 200-day moving average price of $114.03.

First Trust Mid Cap Core AlphaDEX Fund Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Thursday, September 25th will be paid a $0.1937 dividend. The ex-dividend date is Thursday, September 25th. This represents a $0.77 annualized dividend and a yield of 0.6%.

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.

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