First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) Sets New 52-Week High - Time to Buy?

Key Points

• FNX reached a new 52-week high, trading as high as $147.63 and last quoted around $147.81, up 0.3% from its previous close. Its market capitalization is approximately $1.42 billion.
• The ETF announced a quarterly dividend of $0.266 per share, equivalent to an annualized $1.06 payout and a 0.7% yield—described as a dividend cut in the article.
• Several institutional investors increased their FNX holdings, while the fund itself tracks a tiered equal-weighted index of U.S. mid-cap stocks selected using growth and value factors.

First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX - ) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $147.63 and last traded at $147.8050, with a volume of 1780 shares. The stock had previously closed at $147.27.

First Trust Mid Cap Core AlphaDEX Fund Stock Up 0.3%

The company has a market capitalization of $1.42 billion, a P/E ratio of 14.19 and a beta of 1.06. The business's 50-day moving average is $143.75 and its two-hundred day moving average is $137.87.

First Trust Mid Cap Core AlphaDEX Fund Cuts Dividend

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

Institutional Trading of First Trust Mid Cap Core AlphaDEX Fund

A number of institutional investors and hedge funds have recently modified their holdings of the business. Private Advisor Group LLC grew its position in First Trust Mid Cap Core AlphaDEX Fund by 0.3% during the first quarter. Private Advisor Group LLC now owns 26,420 shares of the company's stock valued at $3,388,000 after buying an additional 78 shares during the period. FWG Holdings LLC raised its position in First Trust Mid Cap Core AlphaDEX Fund by 1.0% in the fourth quarter. FWG Holdings LLC now owns 11,216 shares of the company's stock worth $1,485,000 after acquiring an additional 109 shares during the period. Rathbones Group PLC boosted its stake in First Trust Mid Cap Core AlphaDEX Fund by 2.4% in the fourth quarter. Rathbones Group PLC now owns 5,499 shares of the company's stock valued at $693,000 after acquiring an additional 128 shares during the last quarter. Equitable Holdings Inc. boosted its stake in First Trust Mid Cap Core AlphaDEX Fund by 1.9% in the fourth quarter. Equitable Holdings Inc. now owns 9,084 shares of the company's stock valued at $1,144,000 after acquiring an additional 166 shares during the last quarter. Finally, Richmond Investment Services LLC grew its position in shares of First Trust Mid Cap Core AlphaDEX Fund by 4.8% during the 1st quarter. Richmond Investment Services LLC now owns 3,929 shares of the company's stock valued at $504,000 after acquiring an additional 181 shares during the period.

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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