First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Shares Down 1% - What's Next?

Key Points

• The First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) experienced a 1% decline in share price, closing at $55.76, with trading volume significantly down by 67% compared to its average.
• The fund declared a quarterly dividend increase to $0.1914 per share, raising its annualized payout to $0.77 and enhancing the dividend yield to 1.4%.
• There has been significant activity from institutional investors, with firms like NBC Securities Inc. and Geneos Wealth Management Inc. increasing their positions dramatically in the fund.

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK - )'s share price dropped 1% during trading on Tuesday . The stock traded as low as $55.76 and last traded at $55.76. Approximately 5,179 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 15,691 shares. The stock had previously closed at $56.32.

First Trust Mid Cap Value AlphaDEX Fund Trading Down 1.0%

The company has a 50-day simple moving average of $54.12 and a 200 day simple moving average of $51.21. The company has a market cap of $203.52 million, a P/E ratio of 10.44 and a beta of 1.29.

First Trust Mid Cap Value AlphaDEX Fund Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, June 26th were given a dividend of $0.1914 per share. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Thursday, June 26th. This is a positive change 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

Hedge funds and other institutional investors have recently made changes to their positions in the company. NBC Securities Inc. grew its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 114,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,150 shares of the company's stock worth $58,000 after buying an additional 1,149 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 200.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company's stock worth $124,000 after buying an additional 1,600 shares in the last quarter. Private Advisor Group LLC grew its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 9.7% during the 1st quarter. Private Advisor Group LLC now owns 7,839 shares of the company's stock worth $395,000 after buying an additional 691 shares in the last quarter. Jane Street Group LLC bought a new position in shares of First Trust Mid Cap Value AlphaDEX Fund during the 1st quarter worth $464,000. Finally, Triumph Capital Management lifted its stake in shares of First Trust Mid Cap Value AlphaDEX Fund by 10.9% during the 1st quarter. Triumph Capital Management now owns 14,251 shares of the company's stock worth $719,000 after purchasing an additional 1,399 shares during the last quarter.

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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