First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Trading Down 1.2% - Here's Why

Key Points

• The First Trust Mid Cap Value AlphaDEX Fund (FNK) saw its share price decline by 1.2%, closing at $53.75 with a significant decrease in trading volume.
• The fund recently increased its quarterly dividend to $0.1979 per share, marking a boost from the previous dividend of $0.19, resulting in a 1.5% yield.
• Several institutional investors, including Cambridge Investment Research Advisors, have recently increased their stakes in FNK, indicating growing interest in the fund.

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK - )'s share price was down 1.2% on Thursday . The stock traded as low as $53.65 and last traded at $53.75. Approximately 4,186 shares were traded during trading, a decline of 71% from the average daily volume of 14,485 shares. The stock had previously closed at $54.40.

First Trust Mid Cap Value AlphaDEX Fund Price Performance

The firm has a market capitalization of $190.81 million, a PE ratio of 10.44 and a beta of 1.29. The firm's fifty day moving average is $55.17 and its two-hundred day moving average is $51.98.

First Trust Mid Cap Value AlphaDEX Fund Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Thursday, September 25th were issued a dividend of $0.1979 per share. This represents a $0.79 annualized dividend and a yield of 1.5%. This is a boost from First Trust Mid Cap Value AlphaDEX Fund's previous quarterly dividend of $0.19. The ex-dividend date was Thursday, September 25th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FNK. Cambridge Investment Research Advisors Inc. raised its position in First Trust Mid Cap Value AlphaDEX Fund by 70.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 68,053 shares of the company's stock worth $3,432,000 after acquiring an additional 28,201 shares during the period. G&S Capital LLC raised its position in First Trust Mid Cap Value AlphaDEX Fund by 3.1% in the first quarter. G&S Capital LLC now owns 19,552 shares of the company's stock worth $986,000 after acquiring an additional 586 shares during the period. Private Advisor Group LLC raised its position in First Trust Mid Cap Value AlphaDEX Fund by 9.7% in the first quarter. Private Advisor Group LLC now owns 7,839 shares of the company's stock worth $395,000 after acquiring an additional 691 shares during the period. Triumph Capital Management raised its position in First Trust Mid Cap Value AlphaDEX Fund by 10.9% in the first quarter. Triumph Capital Management now owns 14,251 shares of the company's stock worth $719,000 after acquiring an additional 1,399 shares during the period. Finally, Cetera Investment Advisers raised its position in First Trust Mid Cap Value AlphaDEX Fund by 8.7% in the first quarter. Cetera Investment Advisers now owns 25,611 shares of the company's stock worth $1,292,000 after acquiring an additional 2,042 shares during the period.

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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