First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Short Interest Down 36.5% in July

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 - Get Free Report) saw a significant decline in short interest in July. As of July 31st, there was short interest totaling 11,300 shares, adeclineof36.5% from the July 15th total of 17,800 shares. 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 currently 1.1 days. Based on an average trading volume of 10,300 shares, the short-interest ratio is currently 1.1 days. Approximately0.3% of the shares of the stock are short sold.

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

Hedge funds have recently bought and sold shares of the company. Benjamin Edwards Inc. lifted its position in First Trust Mid Cap Value AlphaDEX Fund by 0.6% during the fourth quarter. Benjamin Edwards Inc. now owns 32,955 shares of the company's stock valued at $1,764,000 after purchasing an additional 188 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in First Trust Mid Cap Value AlphaDEX Fund by 1.0% during the second quarter. Kingsview Wealth Management LLC now owns 33,425 shares of the company's stock valued at $1,730,000 after purchasing an additional 338 shares during the last quarter. G&S Capital LLC lifted its position in First Trust Mid Cap Value AlphaDEX Fund by 1.7% during the second quarter. G&S Capital LLC now owns 19,893 shares of the company's stock valued at $1,030,000 after purchasing an additional 341 shares during the last quarter. Private Advisor Group LLC lifted its position in First Trust Mid Cap Value AlphaDEX Fund by 9.7% during the first quarter. Private Advisor Group LLC now owns 7,839 shares of the company's stock valued at $395,000 after purchasing an additional 691 shares during the last quarter. Finally, NBC Securities Inc. lifted its position 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 Stock Up 3.8%

NASDAQ:FNK traded up $2.05 during mid-day trading on Friday, hitting $56.15. 4,811 shares of the stock traded hands, compared to its average volume of 16,274. The business's 50-day moving average price is $52.99 and its 200 day moving average price is $51.02. The company has a market cap of $204.95 million, a PE ratio of 10.44 and a beta of 1.29. First Trust Mid Cap Value AlphaDEX Fund has a 12-month low of $42.68 and a 12-month high of $58.52.

First Trust Mid Cap Value AlphaDEX Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, June 26th were paid a dividend of $0.1914 per share. 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 1.4%. The ex-dividend date of this dividend 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.