First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) Shares Down 1.5% - Here's Why

Key Points

• Shares of the First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) decreased by 1.5% during trading, closing at $124.46, with a notable reduction in trading volume.
• The company recently announced a quarterly dividend of $0.1937 per share, resulting in an annualized dividend yield of 0.6%.
• Several hedge funds have made significant investments in the fund, acquiring new stakes worth up to $54,000 during the recent quarters.

First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX - )'s stock price was down 1.5% during trading on Thursday . The company traded as low as $124.06 and last traded at $124.46. Approximately 18,038 shares traded hands during trading, a decline of 34% from the average daily volume of 27,369 shares. The stock had previously closed at $126.29.

First Trust Mid Cap Core AlphaDEX Fund Trading Down 1.5%

The business's fifty day moving average price is $123.84 and its 200 day moving average price is $115.37. The company has a market capitalization of $1.16 billion, a P/E ratio of 14.19 and a beta of 1.20.

First Trust Mid Cap Core AlphaDEX Fund Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Thursday, September 25th were given a dividend of $0.1937 per share. The ex-dividend date was Thursday, September 25th. This represents a $0.77 dividend on an annualized basis and a dividend yield of 0.6%.

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

Hedge funds have recently made changes to their positions in the company. MTM Investment Management LLC acquired a new stake in shares of First Trust Mid Cap Core AlphaDEX Fund during the 2nd quarter worth about $28,000. BankPlus Trust Department acquired a new stake in shares of First Trust Mid Cap Core AlphaDEX Fund during the 1st quarter worth about $32,000. Atlantic Union Bankshares Corp acquired a new stake in shares of First Trust Mid Cap Core AlphaDEX Fund during the 2nd quarter worth about $44,000. Blair William & Co. IL acquired a new stake in shares of First Trust Mid Cap Core AlphaDEX Fund during the 2nd quarter worth about $47,000. Finally, Anderson Financial Strategies LLC acquired a new stake in shares of First Trust Mid Cap Core AlphaDEX Fund during the 1st quarter worth about $54,000.

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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