First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) Stock Price Down 0.7% - Here's Why

Key Points

• FNX shares fell 0.7% to about $143.81 in midday trading, while volume dropped 71% below the fund’s average daily level.
• The ETF paid a quarterly dividend of $0.266 per share, equating to an annualized dividend of $1.06 and a 0.7% yield.
• Several institutional investors recently initiated or expanded positions in FNX, including Russell Investments Group and Parallel Advisors.

First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX - )'s stock price dropped 0.7% on Tuesday . The stock traded as low as $143.82 and last traded at $143.8120. 6,541 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 22,498 shares. The stock had previously closed at $144.86.

First Trust Mid Cap Core AlphaDEX Fund Stock Performance

The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 14.19 and a beta of 1.05. The company has a 50-day moving average price of $144.55 and a 200-day moving average price of $139.11.

First Trust Mid Cap Core AlphaDEX Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were issued a dividend of $0.266 per share. The ex-dividend date was Thursday, June 25th. This represents a $1.06 dividend on an annualized basis and a yield of 0.7%.

Institutional Investors Weigh In On First Trust Mid Cap Core AlphaDEX Fund

Hedge funds have recently bought and sold shares of the company. Ascentis Independent Advisors acquired a new position in shares of First Trust Mid Cap Core AlphaDEX Fund in the 1st quarter valued at $31,000. Russell Investments Group Ltd. raised its stake in First Trust Mid Cap Core AlphaDEX Fund by 5,077.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 466 shares of the company's stock worth $58,000 after buying an additional 457 shares during the period. MidFirst Bank acquired a new stake in First Trust Mid Cap Core AlphaDEX Fund during the 4th quarter worth $92,000. Parallel Advisors LLC lifted its holdings in First Trust Mid Cap Core AlphaDEX Fund by 942.6% during the first quarter. Parallel Advisors LLC now owns 1,053 shares of the company's stock worth $135,000 after acquiring an additional 952 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in First Trust Mid Cap Core AlphaDEX Fund during the third quarter worth about $136,000.

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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