Short Interest in First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Drops By 20.9%

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK - Get Free Report) was the recipient of a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 10,600 shares, a drop of 20.9% from the March 31st total of 13,400 shares. Based on an average daily volume of 19,000 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.3% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NBC Securities Inc. increased its position in shares of 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 worth $58,000 after acquiring an additional 1,149 shares in the last quarter. Oarsman Capital Inc. acquired a new position in shares of First Trust Mid Cap Value AlphaDEX Fund during the 4th quarter worth approximately $63,000. GAMMA Investing LLC lifted its position in First Trust Mid Cap Value AlphaDEX Fund by 11.5% during the fourth quarter. GAMMA Investing LLC now owns 2,025 shares of the company's stock worth $108,000 after purchasing an additional 209 shares during the period. Jane Street Group LLC acquired a new position in shares of First Trust Mid Cap Value AlphaDEX Fund during the 3rd quarter worth $223,000. Finally, Jones Financial Companies Lllp grew its stake in shares of First Trust Mid Cap Value AlphaDEX Fund by 518.5% during the fourth quarter. Jones Financial Companies Lllp now owns 5,777 shares of the company's stock worth $309,000 after buying an additional 4,843 shares during the last quarter.

First Trust Mid Cap Value AlphaDEX Fund Stock Performance

Shares of NASDAQ FNK traded down $0.10 during trading on Tuesday, hitting $48.21. The company had a trading volume of 2,868 shares, compared to its average volume of 14,631. The company has a market cap of $188.02 million, a P/E ratio of 10.13 and a beta of 1.29. First Trust Mid Cap Value AlphaDEX Fund has a 52 week low of $42.68 and a 52 week high of $58.52. The business's 50-day moving average is $48.62 and its 200 day moving average is $52.64.

First Trust Mid Cap Value AlphaDEX Fund Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 27th were paid a $0.1746 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Thursday, March 27th.

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.