First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Trading Down 1.5% - Here's What Happened

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK - Get Free Report) was down 1.5% during mid-day trading on Friday . The company traded as low as $50.56 and last traded at $50.63. Approximately 5,291 shares were traded during trading, a decline of 62% from the average daily volume of 13,996 shares. The stock had previously closed at $51.42.

First Trust Mid Cap Value AlphaDEX Fund Stock Up 1.2%

The firm has a market cap of $199.80 million, a price-to-earnings ratio of 10.85 and a beta of 1.29. The company has a 50 day moving average of $48.98 and a 200 day moving average of $51.59.

First Trust Mid Cap Value AlphaDEX Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 27th were given a $0.1746 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Thursday, March 27th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. lifted its holdings in First Trust Mid Cap Value AlphaDEX Fund by 0.6% during the 4th quarter. Benjamin Edwards Inc. now owns 32,955 shares of the company's stock worth $1,764,000 after buying an additional 188 shares during the last quarter. G&S Capital LLC raised its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 3.1% during the 1st quarter. G&S Capital LLC now owns 19,552 shares of the company's stock valued at $986,000 after acquiring an additional 586 shares in the last quarter. Wells Fargo & Company MN lifted its stake in First Trust Mid Cap Value AlphaDEX Fund by 0.3% during the fourth quarter. Wells Fargo & Company MN now owns 248,621 shares of the company's stock worth $13,304,000 after purchasing an additional 689 shares during the last quarter. Private Advisor Group LLC boosted its holdings in First Trust Mid Cap Value AlphaDEX Fund by 9.7% in the first quarter. Private Advisor Group LLC now owns 7,839 shares of the company's stock worth $395,000 after purchasing an additional 691 shares during the period. Finally, NBC Securities Inc. increased its stake 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 purchasing an additional 1,149 shares during the last quarter.

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.