First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) Stock Price Up 0.7% - Still a Buy?

Key Points

• Shares of FNX rose 0.7% to $130.48 with volume up 122% to 60,150 shares, trading above its 200‑day SMA ($128.17) but below the 50‑day SMA ($133.87).
• FNX increased its quarterly dividend to $0.3914 (from $0.19), implying a $1.57 annualized payout and a yield of about 1.2%.
• Institutional interest is rising: Northwestern Mutual boosted its position by 1,910% to ~1.39 million shares (~$175.4M), and firms like LPL, Perryman and others also added or initiated stakes.

Shares of First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX - ) traded up 0.7% during trading on Monday . The stock traded as high as $130.53 and last traded at $130.48. 60,150 shares changed hands during trading, an increase of 122% from the average session volume of 27,154 shares. The stock had previously closed at $129.56.

First Trust Mid Cap Core AlphaDEX Fund Trading Up 0.7%

The business's 50 day simple moving average is $133.87 and its 200 day simple moving average is $128.17. The firm has a market capitalization of $1.22 billion, a PE ratio of 14.19 and a beta of 1.12.

First Trust Mid Cap Core AlphaDEX Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, December 12th were given a $0.3914 dividend. This is an increase from First Trust Mid Cap Core AlphaDEX Fund's previous quarterly dividend of $0.19. This represents a $1.57 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, December 12th.

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

Several large investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. raised its position in First Trust Mid Cap Core AlphaDEX Fund by 1,910.0% in the 4th 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. Perryman Financial Advisory Inc. AD bought a new stake in First Trust Mid Cap Core AlphaDEX Fund in the fourth quarter worth about $8,838,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of First Trust Mid Cap Core AlphaDEX Fund during the second quarter valued at approximately $7,460,000. LPL Financial LLC boosted its position in shares of First Trust Mid Cap Core AlphaDEX Fund by 5.5% during the fourth quarter. LPL Financial LLC now owns 934,661 shares of the company's stock valued at $117,744,000 after buying an additional 48,416 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of First Trust Mid Cap Core AlphaDEX Fund during the third quarter valued at approximately $2,310,000.

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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