First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Trading Up 0.6% - Should You 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 - )'s share price was up 0.6% on Friday . The stock traded as high as $53.91 and last traded at $53.90. Approximately 5,779 shares were traded during mid-day 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 Up 0.6%

The firm's 50-day moving average price is $51.80 and its two-hundred day moving average price is $51.24. The firm has a market capitalization of $207.53 million, a PE ratio of 10.44 and a beta of 1.29.

First Trust Mid Cap Value AlphaDEX Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, June 26th were given a $0.1914 dividend. 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 dividend yield of 1.42%. The ex-dividend date was Thursday, June 26th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. NBC Securities Inc. grew 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 in the last quarter. Oarsman Capital Inc. acquired a new stake in First Trust Mid Cap Value AlphaDEX Fund in the fourth quarter valued at approximately $63,000. Private Advisor Group LLC lifted its stake 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 valued at $395,000 after acquiring an additional 691 shares during the last quarter. Jane Street Group LLC acquired a new stake in First Trust Mid Cap Value AlphaDEX Fund in the first quarter valued at approximately $464,000. Finally, Triumph Capital Management acquired a new stake in First Trust Mid Cap Value AlphaDEX Fund in the fourth quarter valued at approximately $688,000.

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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