First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Short Interest Update

Key Points

• Short interest in the First Trust Mid Cap Value AlphaDEX Fund (FNK) saw a significant decrease of 36.5%, dropping from 17,800 shares to 11,300 shares in July.
• Several hedge funds have increased their stakes in FNK, with GAMMA Investing LLC raising its position by an impressive 4,943.8% during the first quarter.
• FNK recently declared a quarterly dividend of $0.1914, up from the previous $0.17, resulting in an annualized yield of 1.4%.

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK - ) was the recipient of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 11,300 shares, adecreaseof36.5% from the July 15th total of 17,800 shares. Based on an average trading volume of 10,300 shares, the short-interest ratio is presently 1.1 days. Approximately0.3% of the shares of the stock are short sold. Approximately0.3% of the shares of the stock are short sold. Based on an average trading volume of 10,300 shares, the short-interest ratio is presently 1.1 days.

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

Several hedge funds have recently added to or reduced their stakes in the company. Total Investment Management Inc. lifted its stake in First Trust Mid Cap Value AlphaDEX Fund by 1.5% in the first quarter. Total Investment Management Inc. now owns 1,345,865 shares of the company's stock valued at $67,883,000 after buying an additional 20,453 shares during the period. Raymond James Financial Inc. raised 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 purchasing an additional 49,527 shares during the period. GAMMA Investing LLC raised its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 4,943.8% during the first quarter. GAMMA Investing LLC now owns 102,137 shares of the company's stock worth $5,152,000 after purchasing an additional 100,112 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 70.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 68,053 shares of the company's stock worth $3,432,000 after purchasing an additional 28,201 shares during the period. Finally, Cetera Investment Advisers raised its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 144.9% during the second quarter. Cetera Investment Advisers now owns 62,711 shares of the company's stock worth $3,246,000 after purchasing an additional 37,100 shares during the period.

First Trust Mid Cap Value AlphaDEX Fund Stock Performance

Shares of FNK stock opened at $54.14 on Tuesday. The stock's fifty day moving average is $52.71 and its 200-day moving average is $51.01. The stock has a market capitalization of $197.61 million, a PE ratio of 10.44 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.

First Trust Mid Cap Value AlphaDEX Fund Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, June 26th were issued a $0.1914 dividend. This is a positive change 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 1.4%. The ex-dividend date was Thursday, June 26th.

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.

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