First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Stock Price Down 0.9% - What's Next?

Key Points

• FNK shares fell 0.9% to approximately $64.16 in midday trading, while volume was 60% below the fund’s average. The ETF has a $230.96 million market capitalization and trades at a 10.44 P/E ratio.
• First Trust Mid Cap Value AlphaDEX Fund paid a quarterly dividend of $0.1676, equivalent to $0.67 annually and a 1.0% dividend yield.
• Institutional ownership increased recently, with Kingsview Wealth Management doubling its position and Citadel Advisors raising its stake by 53.7%. FNK tracks a mid-cap value index using quantitative stock selection and equal-tiered weighting.

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK - )'s share price fell 0.9% during mid-day trading on Wednesday . The stock traded as low as $64.16 and last traded at $64.1560. 2,722 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 6,794 shares. The stock had previously closed at $64.73.

First Trust Mid Cap Value AlphaDEX Fund Trading Down 0.9%

The company has a market cap of $230.96 million, a P/E ratio of 10.44 and a beta of 0.96. The business's 50 day simple moving average is $61.50 and its 200 day simple moving average is $59.71.

First Trust Mid Cap Value AlphaDEX Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were paid a $0.1676 dividend. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $0.67 dividend on an annualized basis and a dividend yield of 1.0%.

Institutional Trading of First Trust Mid Cap Value AlphaDEX Fund

Institutional investors and hedge funds have recently modified their holdings of the company. Kingsview Wealth Management LLC boosted its holdings in First Trust Mid Cap Value AlphaDEX Fund by 100.0% in the 4th quarter. Kingsview Wealth Management LLC now owns 65,940 shares of the company's stock worth $3,669,000 after buying an additional 32,970 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in First Trust Mid Cap Value AlphaDEX Fund during the fourth quarter valued at about $1,473,000. Total Investment Management Inc. raised its holdings in First Trust Mid Cap Value AlphaDEX Fund by 1.5% during the fourth quarter. Total Investment Management Inc. now owns 1,329,591 shares of the company's stock valued at $73,990,000 after acquiring an additional 19,423 shares during the period. Citadel Advisors LLC lifted its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 53.7% in the third quarter. Citadel Advisors LLC now owns 44,666 shares of the company's stock valued at $2,468,000 after acquiring an additional 15,610 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 17.3% in the first quarter. Cetera Investment Advisers now owns 105,572 shares of the company's stock valued at $6,026,000 after acquiring an additional 15,551 shares in the last quarter.

About First Trust Mid Cap Value AlphaDEX Fund

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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