First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Shares Up 0.1% - Should You Buy?

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK - Get Free Report) shot up 0.1% on Friday . The stock traded as high as $54.11 and last traded at $53.88. 5,939 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 13,842 shares. The stock had previously closed at $53.83.

First Trust Mid Cap Value AlphaDEX Fund Stock Performance

The company has a market capitalization of $207.60 million, a price-to-earnings ratio of 10.44 and a beta of 1.29. The firm has a 50-day simple moving average of $50.65 and a two-hundred day simple moving average of $51.21.

First Trust Mid Cap Value AlphaDEX Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 26th were given a $0.1914 dividend. This is an increase from First Trust Mid Cap Value AlphaDEX Fund's previous quarterly dividend of $0.17. This represents a $0.77 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Thursday, June 26th.

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

Several institutional investors have recently bought and sold shares of the company. Jane Street Group LLC acquired a new position in First Trust Mid Cap Value AlphaDEX Fund in the 1st quarter valued at about $464,000. Raymond James Financial Inc. grew its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 93.0% during the first quarter. Raymond James Financial Inc. now owns 102,777 shares of the company's stock worth $5,184,000 after buying an additional 49,527 shares in the last quarter. Total Investment Management Inc. grew its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 1.5% during the first quarter. Total Investment Management Inc. now owns 1,345,865 shares of the company's stock worth $67,883,000 after buying an additional 20,453 shares in the last quarter. Cetera Investment Advisers grew its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 8.7% during the first quarter. Cetera Investment Advisers now owns 25,611 shares of the company's stock worth $1,292,000 after buying an additional 2,042 shares in the last quarter. Finally, Triumph Capital Management grew its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 10.9% during the first quarter. Triumph Capital Management now owns 14,251 shares of the company's stock worth $719,000 after buying an additional 1,399 shares in 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.