First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Stock Price Up 0.6% - Still a Buy?

Key Points

• The First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) saw its share price increase by 0.6%, reaching a last trading price of $53.90 with 5,779 shares traded, significantly below the average volume.
• The fund announced a quarterly dividend of $0.1914, up from the previous $0.17, resulting in an annualized dividend of $0.77 and a yield of 1.42%.
• Institutional investment activity has been notable, with companies like NBC Securities Inc. increasing holdings by 114,900% and other firms acquiring significant stakes, indicating a positive trend in institutional support for FNK.

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK - Get Free Report) shares rose 0.6% during mid-day trading on Friday . The stock traded as high as $53.91 and last traded at $53.90. Approximately 5,779 shares changed hands during trading, a decline of 65% from the average daily volume of 16,461 shares. The stock had previously closed at $53.59.

First Trust Mid Cap Value AlphaDEX Fund Stock Down 0.4%

The stock's 50-day moving average price is $51.85 and its 200 day moving average price is $51.22. The firm has a market capitalization of $206.41 million, a price-to-earnings ratio of 10.44 and a beta of 1.29.

First Trust Mid Cap Value AlphaDEX Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 26th were paid a dividend of $0.1914 per share. This represents a $0.77 annualized dividend and a yield of 1.43%. The ex-dividend date was Thursday, June 26th. This is a positive change from First Trust Mid Cap Value AlphaDEX Fund's previous quarterly dividend of $0.17.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Triumph Capital Management raised its holdings 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 valued at $719,000 after acquiring an additional 1,399 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in First Trust Mid Cap Value AlphaDEX Fund by 70.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 68,053 shares of the company's stock valued at $3,432,000 after buying an additional 28,201 shares during the last quarter. G&S Capital LLC grew its position in First Trust Mid Cap Value AlphaDEX Fund by 3.1% in the 1st quarter. G&S Capital LLC now owns 19,552 shares of the company's stock valued at $986,000 after buying an additional 586 shares during the last quarter. NBC Securities Inc. boosted its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 114,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,150 shares of the company's stock worth $58,000 after purchasing an additional 1,149 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 4,943.8% during the 1st 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 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.