First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) Short Interest Down 51.3% in June

Key Points

• Short interest in FNX fell sharply in June, dropping 51.3% to 10,900 shares as of June 30 from 22,383 shares on June 15. That leaves only about 0.1% of shares sold short and a short-interest ratio of 0.5 days.
• The ETF’s shares were trading near the top of their 52-week range, rising to $142.97 on Wednesday. FNX has traded between $113.65 and $146.75 over the past year.
• The fund recently paid a quarterly dividend of $0.266 per share, equal to an annualized dividend of $1.06 and a yield of 0.7%. The dividend was paid on June 30 to shareholders of record on June 25.

First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX - ) saw a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 10,900 shares, a drop of 51.3% from the June 15th total of 22,383 shares. Approximately 0.1% of the company's shares are sold short. Based on an average daily volume of 21,276 shares, the short-interest ratio is presently 0.5 days.

First Trust Mid Cap Core AlphaDEX Fund Price Performance

Shares of NASDAQ FNX traded up $0.56 during midday trading on Wednesday, reaching $142.97. 11,097 shares of the stock were exchanged, compared to its average volume of 26,081. First Trust Mid Cap Core AlphaDEX Fund has a 12 month low of $113.65 and a 12 month high of $146.75. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 14.19 and a beta of 1.05. The business has a 50-day simple moving average of $141.19 and a two-hundred day simple moving average of $135.79.

First Trust Mid Cap Core AlphaDEX Fund Cuts Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. raised its position in shares of First Trust Mid Cap Core AlphaDEX Fund by 1,910.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,392,336 shares of the company's stock worth $175,406,000 after purchasing an additional 1,323,065 shares during the period. Morgan Stanley grew its position in shares of First Trust Mid Cap Core AlphaDEX Fund by 0.5% in the 4th quarter. Morgan Stanley now owns 1,050,519 shares of the company's stock valued at $132,340,000 after purchasing an additional 5,458 shares during the period. LPL Financial LLC increased its stake in First Trust Mid Cap Core AlphaDEX Fund by 5.5% during the 4th quarter. LPL Financial LLC now owns 934,661 shares of the company's stock worth $117,744,000 after purchasing an additional 48,416 shares in the last quarter. Wells Fargo & Company MN increased its stake in First Trust Mid Cap Core AlphaDEX Fund by 1.9% during the 4th quarter. Wells Fargo & Company MN now owns 679,379 shares of the company's stock worth $85,585,000 after purchasing an additional 12,936 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in First Trust Mid Cap Core AlphaDEX Fund by 4.8% during the 1st quarter. Royal Bank of Canada now owns 273,951 shares of the company's stock worth $35,132,000 after buying an additional 12,540 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.