First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) Sees Large Volume Increase - Should You Buy?

Key Points

• FNX saw unusually high trading volume on Thursday, with 18,894 shares traded, though that was down 28% from the prior session. The fund’s share price also rose about 1.1% to $142.65.
• The ETF recently paid a quarterly dividend of $0.266 per share, equal to an annualized dividend of $1.06 and a yield of 0.7%.
• Institutional investors have been adding to positions in FNX, including new stakes from Jane Street Group, Two Sigma Securities, and Truefg LLC, while Geneos Wealth Management and Russell Investments also increased holdings.

Shares of First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX - ) saw unusually-high trading volume on Thursday . 18,894 shares were traded during trading, a decline of 28% from the previous session's volume of 26,264 shares.The stock last traded at $142.65 and had previously closed at $141.49.

First Trust Mid Cap Core AlphaDEX Fund Trading Up 1.1%

The company has a 50 day moving average of $140.80 and a 200 day moving average of $135.39. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 14.19 and a beta of 1.05.

First Trust Mid Cap Core AlphaDEX Fund Cuts Dividend

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

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

A number of hedge funds have recently made changes to their positions in FNX. Jane Street Group LLC acquired a new position in First Trust Mid Cap Core AlphaDEX Fund in the first quarter valued at about $267,000. Two Sigma Securities LLC acquired a new stake in shares of First Trust Mid Cap Core AlphaDEX Fund during the second quarter worth approximately $325,000. Truefg LLC acquired a new stake in shares of First Trust Mid Cap Core AlphaDEX Fund during the second quarter worth approximately $266,000. Geneos Wealth Management Inc. raised its stake in shares of First Trust Mid Cap Core AlphaDEX Fund by 101.9% in the second quarter. Geneos Wealth Management Inc. now owns 3,457 shares of the company's stock valued at $397,000 after acquiring an additional 1,745 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of First Trust Mid Cap Core AlphaDEX Fund by 5,077.8% in the third quarter. Russell Investments Group Ltd. now owns 466 shares of the company's stock valued at $58,000 after acquiring an additional 457 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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