First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Sees Large Decline in Short Interest

Key Points

• Short interest in FNK fell 85.2% to 931 shares as of September 30, down from 6,287 shares two weeks earlier. Short interest represented approximately 0.0% of shares outstanding, with a short-interest ratio of 0.1 days.
• Several institutional investors increased their positions, including Cetera Investment Advisers, Kestra Advisory Services, and Rockefeller Capital Management. Other firms, including RFG Advisory and Parallel Advisors, initiated new positions.
• FNK recently increased its quarterly dividend to $0.2757 per share, equivalent to an annualized $1.10 payout and a 1.8% yield. The stock opened at $60.27, with a market capitalization of about $217 million.

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK - ) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 931 shares, a decline of 85.2% from the September 15th total of 6,287 shares. Based on an average trading volume of 7,040 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the company are sold short.

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

Several institutional investors have recently made changes to their positions in FNK. Cetera Investment Advisers boosted its holdings 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 worth $6,026,000 after buying an additional 15,551 shares during the last quarter. Kestra Advisory Services LLC raised its position in First Trust Mid Cap Value AlphaDEX Fund by 23.5% in the first quarter. Kestra Advisory Services LLC now owns 10,335 shares of the company's stock worth $590,000 after acquiring an additional 1,966 shares during the period. RFG Advisory LLC bought a new position in First Trust Mid Cap Value AlphaDEX Fund in the second quarter worth approximately $202,000. Rockefeller Capital Management L.P. raised its position in First Trust Mid Cap Value AlphaDEX Fund by 69.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,876 shares of the company's stock worth $160,000 after acquiring an additional 1,183 shares during the period. Finally, Parallel Advisors LLC purchased a new position in shares of First Trust Mid Cap Value AlphaDEX Fund during the 1st quarter worth $110,000.

First Trust Mid Cap Value AlphaDEX Fund Stock Performance

First Trust Mid Cap Value AlphaDEX Fund stock opened at $60.27 on Friday. First Trust Mid Cap Value AlphaDEX Fund has a one year low of $51.98 and a one year high of $65.14. The stock has a fifty day moving average of $62.98 and a 200 day moving average of $61.02. The stock has a market cap of $216.97 million, a PE ratio of 10.44 and a beta of 0.97.

First Trust Mid Cap Value AlphaDEX Fund Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th were paid a dividend of $0.2757 per share. The ex-dividend date was Thursday, September 24th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.8%. This is an increase from First Trust Mid Cap Value AlphaDEX Fund's previous quarterly dividend of $0.1676.

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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