First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Sees Large Decrease in Short Interest

Key Points

• Short interest dropped 24.8% in April to 11,463 shares, leaving a short-interest ratio of 0.6 days and just 0.3% of shares sold short.
• The fund recently paid a quarterly dividend of $0.252 per share (annualized $1.01) for a yield of 1.7%.
• Shares traded at $59.49 (52-week range $46.66–$61.27), with a market capitalization of $214.16 million and a P/E of 10.44.

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK - ) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totaling 11,463 shares, a drop of 24.8% from the March 31st total of 15,246 shares. Based on an average daily volume of 19,920 shares, the short-interest ratio is presently 0.6 days. Currently, 0.3% of the shares of the company are sold short.

First Trust Mid Cap Value AlphaDEX Fund Stock Performance

Shares of First Trust Mid Cap Value AlphaDEX Fund stock traded down $0.34 during trading on Wednesday, hitting $59.49. 10,324 shares of the company's stock were exchanged, compared to its average volume of 8,640. The business has a 50-day simple moving average of $58.34 and a 200-day simple moving average of $56.99. First Trust Mid Cap Value AlphaDEX Fund has a 52-week low of $46.66 and a 52-week high of $61.27. The stock has a market capitalization of $214.16 million, a price-to-earnings ratio of 10.44 and a beta of 1.02.

First Trust Mid Cap Value AlphaDEX Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were issued a dividend of $0.252 per share. This represents a $1.01 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Thursday, March 26th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FNK. Jane Street Group LLC purchased a new position in First Trust Mid Cap Value AlphaDEX Fund in the first quarter valued at $464,000. Benjamin Edwards Inc. increased its holdings in First Trust Mid Cap Value AlphaDEX Fund by 39.4% in the second quarter. Benjamin Edwards Inc. now owns 44,966 shares of the company's stock valued at $2,327,000 after buying an additional 12,702 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in First Trust Mid Cap Value AlphaDEX Fund by 200.0% in the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company's stock valued at $124,000 after buying an additional 1,600 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in First Trust Mid Cap Value AlphaDEX Fund by 14.9% in the third quarter. Jones Financial Companies Lllp now owns 32,546 shares of the company's stock valued at $1,807,000 after buying an additional 4,211 shares in the last quarter. Finally, Founders Financial Alliance LLC purchased a new position in First Trust Mid Cap Value AlphaDEX Fund in the third quarter valued at $160,000.

About First Trust Mid Cap Value AlphaDEX Fund

The First Trust Mid Cap Value AlphaDEX Fund (FNK) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Mid Cap Value index. The fund tracks a mid-cap index that selects value stocks using quant methodology and applies an equal-tiered weighting scheme. FNK was launched on Apr 18, 2011 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.