First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Sees Significant Growth in Short Interest

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 52,200 shares, an increase of 93.3% from the October 31st total of 27,000 shares. Based on an average trading volume of 10,500 shares, the short-interest ratio is currently 5.0 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FNK. Janney Montgomery Scott LLC raised its holdings in First Trust Mid Cap Value AlphaDEX Fund by 0.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 37,585 shares of the company’s stock worth $2,048,000 after acquiring an additional 207 shares during the period. Raymond James & Associates lifted its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 1.3% during the 3rd quarter. Raymond James & Associates now owns 55,317 shares of the company’s stock worth $3,014,000 after purchasing an additional 693 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 95.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,816 shares of the company’s stock worth $93,000 after purchasing an additional 885 shares during the last quarter. Stifel Financial Corp grew its holdings in First Trust Mid Cap Value AlphaDEX Fund by 6.5% in the 3rd quarter. Stifel Financial Corp now owns 24,407 shares of the company’s stock valued at $1,330,000 after buying an additional 1,479 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its position in First Trust Mid Cap Value AlphaDEX Fund by 4.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 38,643 shares of the company’s stock worth $1,973,000 after buying an additional 1,736 shares during the period.

First Trust Mid Cap Value AlphaDEX Fund Price Performance

FNK traded up $0.14 during midday trading on Friday, hitting $57.90. 2,813 shares of the company’s stock traded hands, compared to its average volume of 16,078. The company has a market cap of $234.50 million, a PE ratio of 10.86 and a beta of 1.29. The stock’s fifty day simple moving average is $54.96 and its 200-day simple moving average is $53.37. First Trust Mid Cap Value AlphaDEX Fund has a one year low of $45.84 and a one year high of $58.52.

First Trust Mid Cap Value AlphaDEX Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 26th were given a $0.2554 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.76%. This is a boost from First Trust Mid Cap Value AlphaDEX Fund’s previous quarterly dividend of $0.21.

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.