Short Interest in First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) Increases By 187.7%

Key Points

• Short interest in First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) jumped 187.7% in April to 8,113 shares, but shorts still represent only 0.1% of shares outstanding and the days-to-cover is just 0.3 days.
• Several institutional investors boosted their FNX stakes in the third quarter, notably Three Cord True Wealth Management, which now holds 119,613 shares (about $15.0M), while firms like First Heartland, Ameritas, Western Wealth and Jones Financial also added shares.
• FNX traded at $137.80 (down 0.1%) with a market cap of $1.32B, a P/E of 14.19 and a 52‑week range of $102.86–$139.54, and it recently paid a quarterly dividend of $0.3141 (annualized $1.26) for a ~0.9% yield.

First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX - ) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totaling 8,113 shares, a growth of 187.7% from the March 31st total of 2,820 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 30,021 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Trading of First Trust Mid Cap Core AlphaDEX Fund

Several large investors have recently added to or reduced their stakes in FNX. First Heartland Consultants Inc. boosted its position in shares of First Trust Mid Cap Core AlphaDEX Fund by 22.3% in the third quarter. First Heartland Consultants Inc. now owns 4,697 shares of the company's stock worth $589,000 after purchasing an additional 858 shares during the period. Ameritas Advisory Services LLC boosted its position in shares of First Trust Mid Cap Core AlphaDEX Fund by 44.2% in the third quarter. Ameritas Advisory Services LLC now owns 2,333 shares of the company's stock worth $293,000 after purchasing an additional 715 shares during the period. Western Wealth Management LLC boosted its position in shares of First Trust Mid Cap Core AlphaDEX Fund by 1.6% in the third quarter. Western Wealth Management LLC now owns 37,154 shares of the company's stock worth $4,659,000 after purchasing an additional 599 shares during the period. Jones Financial Companies Lllp boosted its position in shares of First Trust Mid Cap Core AlphaDEX Fund by 13.6% in the third quarter. Jones Financial Companies Lllp now owns 12,678 shares of the company's stock worth $1,589,000 after purchasing an additional 1,517 shares during the period. Finally, Three Cord True Wealth Management LLC boosted its position in shares of First Trust Mid Cap Core AlphaDEX Fund by 2.4% in the third quarter. Three Cord True Wealth Management LLC now owns 119,613 shares of the company's stock worth $15,000,000 after purchasing an additional 2,755 shares during the period.

First Trust Mid Cap Core AlphaDEX Fund Trading Down 0.1%

NASDAQ FNX traded down $0.18 during trading hours on Friday, hitting $137.80. 30,621 shares of the company's stock traded hands, compared to its average volume of 30,616. The business's fifty day moving average price is $132.39 and its two-hundred day moving average price is $129.58. The firm has a market capitalization of $1.32 billion, a P/E ratio of 14.19 and a beta of 1.09. First Trust Mid Cap Core AlphaDEX Fund has a 52 week low of $102.86 and a 52 week high of $139.54.

First Trust Mid Cap Core AlphaDEX Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were given a dividend of $0.3141 per share. This represents a $1.26 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, March 26th.

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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