First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) Stock Jumps 1.6% - Should You Buy?

Key Points

• FNX shares rose 1.6% to $138.03 in mid-day trading, although volume was about 10% below the average session level. The fund has a $1.35 billion market capitalization, a 14.19 price-to-earnings ratio and a beta of 1.07.
• The fund increased its quarterly dividend to $0.4106 from $0.2660, equating to an annualized payout of $1.64 and a 1.2% yield.
• Several institutional investors expanded their FNX positions during the third quarter. FNX tracks a tiered equal-weighted index of U.S. mid-cap stocks selected using growth and value criteria.

First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX - )'s share price was up 1.6% during mid-day trading on Thursday. The company traded as high as $138.05 and last traded at $138.03. Approximately 19,039 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 21,110 shares. The stock had previously closed at $135.88.

First Trust Mid Cap Core AlphaDEX Fund Stock Up 1.6%

The company's 50 day moving average is $141.53 and its 200 day moving average is $140.43. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 14.19 and a beta of 1.07.

First Trust Mid Cap Core AlphaDEX Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th were paid a $0.4106 dividend. This is a positive change from First Trust Mid Cap Core AlphaDEX Fund's previous quarterly dividend of $0.2660. The ex-dividend date was Thursday, September 24th. This represents a $1.64 annualized dividend and a yield of 1.2%.

Institutional Trading of First Trust Mid Cap Core AlphaDEX Fund

A number of institutional investors have recently bought and sold shares of the business. Purus Wealth Management LLC raised its holdings in First Trust Mid Cap Core AlphaDEX Fund by 26.8% in the 3rd quarter. Purus Wealth Management LLC now owns 15,535 shares of the company's stock valued at $2,096,000 after acquiring an additional 3,286 shares in the last quarter. Truefg LLC grew its holdings in shares of First Trust Mid Cap Core AlphaDEX Fund by 33.4% during the 3rd quarter. Truefg LLC now owns 2,482 shares of the company's stock worth $335,000 after purchasing an additional 621 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of First Trust Mid Cap Core AlphaDEX Fund during the 3rd quarter worth $27,000. Triumph Capital Management grew its holdings in shares of First Trust Mid Cap Core AlphaDEX Fund by 3.2% during the 3rd quarter. Triumph Capital Management now owns 10,267 shares of the company's stock worth $1,385,000 after purchasing an additional 322 shares in the last quarter. Finally, Boyce & Associates Wealth Consulting Inc. increased its position in shares of First Trust Mid Cap Core AlphaDEX Fund by 25.3% in the third quarter. Boyce & Associates Wealth Consulting Inc. now owns 2,036 shares of the company's stock worth $275,000 after purchasing an additional 411 shares during the period.

About First Trust Mid Cap Core AlphaDEX Fund

The First Trust Mid Cap Core AlphaDEX Fund (FNX) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Mid Cap Core index. The fund tracks a tiered equal-weighted index of US mid-cap equities selected using both growth and value screens. FNX was launched on May 8, 2007 and is managed by First Trust.

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