First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) Trading Down 1.2% - Here's Why

First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX - Get Free Report)'s share price dropped 1.2% on Wednesday . The company traded as low as $113.18 and last traded at $113.18. Approximately 49,674 shares were traded during mid-day trading, an increase of 50% from the average daily volume of 33,196 shares. The stock had previously closed at $114.54.

First Trust Mid Cap Core AlphaDEX Fund Price Performance

The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 14.75 and a beta of 1.20. The stock has a 50 day simple moving average of $110.22 and a two-hundred day simple moving average of $112.33.

First Trust Mid Cap Core AlphaDEX Fund Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, June 26th will be given a dividend of $0.2671 per share. This represents a $1.07 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, June 26th. This is a positive change from First Trust Mid Cap Core AlphaDEX Fund's previous quarterly dividend of $0.26.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC lifted its position in shares of First Trust Mid Cap Core AlphaDEX Fund by 19.0% during the 4th quarter. Global Retirement Partners LLC now owns 953 shares of the company's stock worth $110,000 after buying an additional 152 shares during the last quarter. Rathbones Group PLC grew its position in shares of First Trust Mid Cap Core AlphaDEX Fund by 3.5% in the 4th quarter. Rathbones Group PLC now owns 5,431 shares of the company's stock valued at $628,000 after buying an additional 185 shares during the last quarter. Apollon Wealth Management LLC raised its stake in First Trust Mid Cap Core AlphaDEX Fund by 4.2% during the 1st quarter. Apollon Wealth Management LLC now owns 4,700 shares of the company's stock worth $512,000 after acquiring an additional 188 shares in the last quarter. Comerica Bank lifted its position in First Trust Mid Cap Core AlphaDEX Fund by 1.0% in the fourth quarter. Comerica Bank now owns 18,924 shares of the company's stock valued at $2,190,000 after acquiring an additional 189 shares during the last quarter. Finally, LVZ Inc. boosted its stake in First Trust Mid Cap Core AlphaDEX Fund by 1.5% in the first quarter. LVZ Inc. now owns 16,154 shares of the company's stock valued at $1,760,000 after acquiring an additional 243 shares in the last quarter.

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.