First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Shares Down 0.8% - What's Next?

Key Points

• Shares of the First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) fell by 0.8%, trading at $54.14, with a significant drop in trading volume of 78% compared to the average.
• The fund recently announced an increase in its quarterly dividend to $0.1914 per share, up from $0.17, reflecting a 1.4% yield on an annualized basis.
• Several large investors, including GAMMA Investing LLC and Raymond James Financial Inc., have significantly increased their stakes in the fund during the first quarter, indicating growing institutional interest.

Shares of First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK - ) fell 0.8% on Friday . The company traded as low as $54.14 and last traded at $54.14. 3,576 shares were traded during trading, a decline of 78% from the average session volume of 16,596 shares. The stock had previously closed at $54.60.

First Trust Mid Cap Value AlphaDEX Fund Stock Performance

The business has a fifty day moving average price of $52.65 and a 200 day moving average price of $51.08. The company has a market capitalization of $197.61 million, a PE ratio of 10.44 and a beta of 1.29.

First Trust Mid Cap Value 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 given a dividend of $0.1914 per share. This is a boost from First Trust Mid Cap Value AlphaDEX Fund's previous quarterly dividend of $0.17. The ex-dividend date was Thursday, June 26th. This represents a $0.77 dividend on an annualized basis and a yield of 1.4%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Total Investment Management Inc. boosted its stake in shares of First Trust Mid Cap Value AlphaDEX Fund by 1.5% during the 1st quarter. Total Investment Management Inc. now owns 1,345,865 shares of the company's stock worth $67,883,000 after acquiring an additional 20,453 shares in the last quarter. Raymond James Financial Inc. raised its position in First Trust Mid Cap Value AlphaDEX Fund by 93.0% in the 1st quarter. Raymond James Financial Inc. now owns 102,777 shares of the company's stock valued at $5,184,000 after purchasing an additional 49,527 shares during the last quarter. GAMMA Investing LLC raised its position in First Trust Mid Cap Value AlphaDEX Fund by 4,943.8% in the 1st quarter. GAMMA Investing LLC now owns 102,137 shares of the company's stock valued at $5,152,000 after purchasing an additional 100,112 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in First Trust Mid Cap Value AlphaDEX Fund by 70.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 68,053 shares of the company's stock valued at $3,432,000 after purchasing an additional 28,201 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of First Trust Mid Cap Value AlphaDEX Fund by 144.9% in the 2nd quarter. Cetera Investment Advisers now owns 62,711 shares of the company's stock valued at $3,246,000 after buying an additional 37,100 shares during the period.

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.

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