First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Short Interest Update

Key Points

• Short interest fell sharply by 35.7% to 6,287 shares as of September 15, from 9,784 shares at the end of August. FNK’s days-to-cover ratio was 1.5, with only about 0.2% of shares sold short.
• FNK opened at $59.16, with a 52-week range of $51.98 to $65.14, a market capitalization of approximately $212.96 million, and a price-to-earnings ratio of 10.44.
• The fund increased its quarterly dividend to $0.2757 from $0.1676, representing an annualized dividend of $1.10 and a 1.9% yield. Several institutional investors also increased or initiated positions in the fund.

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK - ) saw a large decline in short interest in the month of September. As of September 15th, there was short interest totaling 6,287 shares, a decline of 35.7% from the August 31st total of 9,784 shares. Based on an average trading volume of 4,177 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.2% of the company's shares are sold short.

First Trust Mid Cap Value AlphaDEX Fund Stock Down 0.7%

FNK stock opened at $59.16 on Thursday. First Trust Mid Cap Value AlphaDEX Fund has a twelve month low of $51.98 and a twelve month high of $65.14. The firm has a market cap of $212.96 million, a price-to-earnings ratio of 10.44 and a beta of 0.96. The business's fifty day simple moving average is $63.45 and its two-hundred day simple moving average is $60.87.

First Trust Mid Cap Value AlphaDEX Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were paid a $0.2757 dividend. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $1.10 annualized dividend and a yield of 1.9%. This is a boost from First Trust Mid Cap Value AlphaDEX Fund's previous quarterly dividend of $0.1676.

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

A number of institutional investors have recently modified their holdings of the stock. Cetera Investment Advisers boosted its position in 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 valued at $6,026,000 after buying an additional 15,551 shares during the last quarter. RFG Advisory LLC purchased a new stake in shares of First Trust Mid Cap Value AlphaDEX Fund in the 2nd quarter valued at $202,000. Kestra Advisory Services LLC increased its stake in shares of 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. Parallel Advisors LLC purchased a new position in shares of First Trust Mid Cap Value AlphaDEX Fund during the first quarter worth $110,000. Finally, Rockefeller Capital Management L.P. lifted its position in First Trust Mid Cap Value AlphaDEX Fund by 69.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,876 shares of the company's stock valued at $160,000 after purchasing an additional 1,183 shares during the period.

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.

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