First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Stock Price Down 1.5% - Here's What Happened

Key Points

• FNK shares fell 1.5% to $62.56 during midday trading, with volume surging 513% above the average session volume to 40,727 shares.
• The ETF paid a quarterly dividend of $0.1676, equivalent to $0.67 annually and a 1.1% yield.
• Several institutional investors increased or initiated positions in FNK, including Rockefeller Capital Management, Kestra Advisory Services, Bessemer Group, and Parallel Advisors.

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK - ) shares traded down 1.5% during mid-day trading on Wednesday . The stock traded as low as $62.52 and last traded at $62.56. 40,727 shares changed hands during trading, an increase of 513% from the average session volume of 6,644 shares. The stock had previously closed at $63.54.

First Trust Mid Cap Value AlphaDEX Fund Price Performance

The firm has a 50-day moving average of $63.69 and a 200 day moving average of $60.69. The stock has a market capitalization of $188.31 million, a price-to-earnings ratio of 10.44 and a beta of 0.96.

First Trust Mid Cap Value AlphaDEX Fund Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were paid a $0.1676 dividend. This represents a $0.67 annualized dividend and a yield of 1.1%. The ex-dividend date was Thursday, June 25th.

Institutional Trading of First Trust Mid Cap Value AlphaDEX Fund

Hedge funds have recently made changes to their positions in the business. Bessemer Group Inc. acquired a new position in shares of First Trust Mid Cap Value AlphaDEX Fund during the 1st quarter worth approximately $26,000. Parallel Advisors LLC bought a new position in First Trust Mid Cap Value AlphaDEX Fund during the first quarter worth $110,000. Rockefeller Capital Management L.P. boosted 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 worth $160,000 after purchasing an additional 1,183 shares during the period. RFG Advisory LLC acquired a new position in shares of First Trust Mid Cap Value AlphaDEX Fund in the second quarter valued at $202,000. Finally, Kestra Advisory Services LLC increased its holdings 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 valued at $590,000 after purchasing an additional 1,966 shares during the last quarter.

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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