First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Shares Down 0.8% - Time to Sell?

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.

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK - Get Free Report) traded down 0.8% during mid-day trading on Friday . The stock 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 company has a market capitalization of $197.74 million, a P/E ratio of 10.44 and a beta of 1.29. The firm's fifty day moving average is $52.77 and its 200 day moving average is $51.03.

First Trust Mid Cap Value AlphaDEX Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 26th were paid a $0.1914 dividend. The ex-dividend date was Thursday, June 26th. This represents a $0.77 dividend on an annualized basis and a yield of 1.4%. This is an increase from First Trust Mid Cap Value AlphaDEX Fund's previous quarterly dividend of $0.17.

Hedge Funds Weigh In On First Trust Mid Cap Value AlphaDEX Fund

A number of hedge funds and other institutional investors have recently modified their holdings of FNK. NBC Securities Inc. lifted its position in First Trust Mid Cap Value AlphaDEX Fund by 114,900.0% during the first quarter. NBC Securities Inc. now owns 1,150 shares of the company's stock valued at $58,000 after acquiring an additional 1,149 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of 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 worth $124,000 after acquiring an additional 1,600 shares during the period. Private Advisor Group LLC grew its position in First Trust Mid Cap Value AlphaDEX Fund by 9.7% during the first quarter. Private Advisor Group LLC now owns 7,839 shares of the company's stock valued at $395,000 after buying an additional 691 shares during the period. Jane Street Group LLC acquired a new stake in First Trust Mid Cap Value AlphaDEX Fund during the first quarter valued at $464,000. Finally, Triumph Capital Management acquired a new stake in First Trust Mid Cap Value AlphaDEX Fund during the fourth quarter valued at $688,000.

First Trust Mid Cap Value AlphaDEX Fund Company Profile

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.