First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) Stock Price Down 0.2% - Time to Sell?

Key Points

• The share price of the First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) fell by 0.2%, trading at $116.50, with a significant drop in trading volume.
• FNX recently declared a quarterly dividend of $0.2671 per share, an increase from its previous dividend of $0.26, representing an annual yield of 0.9%.
• Several hedge funds have significantly increased their stakes in FNX, with notable investment updates from GAMMA Investing LLC and Susquehanna International Group LLP.

First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX - )'s share price dropped 0.2% on Thursday . The stock traded as low as $116.08 and last traded at $116.50. Approximately 23,350 shares changed hands during trading, a decline of 24% from the average daily volume of 30,773 shares. The stock had previously closed at $116.68.

First Trust Mid Cap Core AlphaDEX Fund Trading Down 0.2%

The firm's fifty day moving average is $115.43 and its 200-day moving average is $112.37. The stock has a market capitalization of $1.13 billion, a PE ratio of 14.19 and a beta of 1.20.

First Trust Mid Cap Core AlphaDEX Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 26th were paid a dividend of $0.2671 per share. This represents a $1.07 dividend on an annualized basis and a yield of 0.9%. This is a boost from First Trust Mid Cap Core AlphaDEX Fund's previous quarterly dividend of $0.26. The ex-dividend date was Thursday, June 26th.

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

A number of hedge funds have recently added to or reduced their stakes in the business. Three Cord True Wealth Management LLC purchased a new stake in First Trust Mid Cap Core AlphaDEX Fund during the fourth quarter worth approximately $12,391,000. GAMMA Investing LLC grew its position in shares of First Trust Mid Cap Core AlphaDEX Fund by 10,798.0% in the 1st quarter. GAMMA Investing LLC now owns 101,024 shares of the company's stock valued at $11,010,000 after buying an additional 100,097 shares during the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in First Trust Mid Cap Core AlphaDEX Fund during the 2nd quarter worth $5,857,000. Susquehanna International Group LLP lifted its position in First Trust Mid Cap Core AlphaDEX Fund by 816.2% in the fourth quarter. Susquehanna International Group LLP now owns 34,814 shares of the company's stock valued at $4,029,000 after acquiring an additional 31,014 shares during the last quarter. Finally, Crux Wealth Advisors purchased a new stake in First Trust Mid Cap Core AlphaDEX Fund in the fourth quarter valued at $3,131,000.

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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