First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) Trading Down 0.9% - Here's Why

Key Points

• The First Trust Mid Cap Core AlphaDEX Fund (FNX) experienced a 0.9% decline in share price during recent trading, dropping to $123.82 after closing at $125.00.
• The fund announced a quarterly dividend of $0.1937 per share, payable on September 30th, which results in an annual yield of 0.6%.
• Several institutional investors have recently made new investments in FNX, indicating growing interest in the fund, with stakes ranging from $28,000 to $54,000.

First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX - )'s share price dropped 0.9% during mid-day trading on Thursday . The stock traded as low as $123.16 and last traded at $123.82. Approximately 10,754 shares were traded during trading, a decline of 62% from the average daily volume of 28,055 shares. The stock had previously closed at $125.00.

First Trust Mid Cap Core AlphaDEX Fund Trading Down 0.9%

The stock has a market cap of $1.20 billion, a PE ratio of 14.19 and a beta of 1.20. The company's 50 day moving average is $121.47 and its 200-day moving average is $113.68.

First Trust Mid Cap Core AlphaDEX Fund Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Thursday, September 25th will be paid a dividend of $0.1937 per share. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $0.77 annualized dividend and a yield of 0.6%.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MTM Investment Management LLC bought a new stake in shares of First Trust Mid Cap Core AlphaDEX Fund in the 2nd quarter worth about $28,000. BankPlus Trust Department bought a new stake in shares of First Trust Mid Cap Core AlphaDEX Fund in the 1st quarter worth about $32,000. Atlantic Union Bankshares Corp bought a new stake in shares of First Trust Mid Cap Core AlphaDEX Fund in the 2nd quarter worth about $44,000. Blair William & Co. IL bought a new stake in shares of First Trust Mid Cap Core AlphaDEX Fund in the 2nd quarter worth about $47,000. Finally, Anderson Financial Strategies LLC bought a new stake in shares of First Trust Mid Cap Core AlphaDEX Fund in 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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