First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Trading Up 0.4% - Still a Buy?

Key Points

• Shares of First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) were up about 0.4% on Thursday, last trading at $59.01 after an intraday high of $59.19, on volume of roughly 8,053 shares (slightly below average).
• The fund paid a quarterly dividend of $0.252 (annualized $1.01), implying a yield of about 1.7%, with an ex-dividend date of March 26 and payment on March 31.
• FNK is a mid‑cap value ETF tracking the NASDAQ AlphaDEX Mid Cap Value index using a quant, equal‑tiered weighting approach, with a market cap of roughly $212.4M, a P/E of 10.44 and a beta of 1.02, and several institutional investors recently adding or increasing stakes.

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK - )'s share price was up 0.4% on Thursday . The stock traded as high as $59.19 and last traded at $59.01. Approximately 8,053 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 9,041 shares. The stock had previously closed at $58.77.

First Trust Mid Cap Value AlphaDEX Fund Trading Up 0.4%

The company's fifty day moving average is $58.46 and its two-hundred day moving average is $56.70. The stock has a market cap of $212.44 million, a price-to-earnings ratio of 10.44 and a beta of 1.02.

First Trust Mid Cap Value AlphaDEX Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were given a $0.252 dividend. This represents a $1.01 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Thursday, March 26th.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. purchased a new position in First Trust Mid Cap Value AlphaDEX Fund in the 3rd quarter valued at approximately $31,000. Sound Income Strategies LLC purchased a new position in First Trust Mid Cap Value AlphaDEX Fund in the 4th quarter valued at approximately $58,000. Geneos Wealth Management Inc. boosted its position in First Trust Mid Cap Value AlphaDEX Fund by 200.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company's stock valued at $124,000 after buying an additional 1,600 shares during the period. Rockefeller Capital Management L.P. boosted its position in First Trust Mid Cap Value AlphaDEX Fund by 69.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,876 shares of the company's stock valued at $160,000 after buying an additional 1,183 shares during the period. Finally, Founders Financial Alliance LLC purchased a new position in First Trust Mid Cap Value AlphaDEX Fund in the 3rd quarter valued at approximately $160,000.

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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