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

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) was the recipient of a significant decline in short interest in March. As of March 15th, there was short interest totalling 11,700 shares, a decline of 30.8% from the February 28th total of 16,900 shares. Based on an average daily volume of 20,500 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.3% of the company’s stock are sold short.

First Trust Mid Cap Value AlphaDEX Fund Stock Up 0.7 %

Shares of FNK traded up $0.34 during midday trading on Monday, reaching $50.49. 9,912 shares of the stock were exchanged, compared to its average volume of 14,335. The company has a market cap of $212.04 million, a price-to-earnings ratio of 11.26 and a beta of 1.29. First Trust Mid Cap Value AlphaDEX Fund has a 12-month low of $48.71 and a 12-month high of $58.52. The firm has a 50 day simple moving average of $52.87 and a 200-day simple moving average of $54.05.

First Trust Mid Cap Value AlphaDEX Fund Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 27th will be given a dividend of $0.1746 per share. This represents a $0.70 annualized dividend and a yield of 1.38%. The ex-dividend date is Thursday, March 27th.

Institutional Trading of First Trust Mid Cap Value AlphaDEX Fund

Several large investors have recently added to or reduced their stakes in FNK. Wells Fargo & Company MN lifted its stake in shares of First Trust Mid Cap Value AlphaDEX Fund by 0.3% in the 4th quarter. Wells Fargo & Company MN now owns 248,621 shares of the company’s stock valued at $13,304,000 after purchasing an additional 689 shares during the last quarter. Oarsman Capital Inc. acquired a new stake in shares of First Trust Mid Cap Value AlphaDEX Fund in the fourth quarter worth about $63,000. Raymond James Financial Inc. bought a new stake in shares of First Trust Mid Cap Value AlphaDEX Fund during the 4th quarter worth about $2,849,000. Commonwealth Equity Services LLC increased its holdings in shares of First Trust Mid Cap Value AlphaDEX Fund by 3.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 40,258 shares of the company’s stock valued at $2,154,000 after acquiring an additional 1,424 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of First Trust Mid Cap Value AlphaDEX Fund by 518.5% in the 4th quarter. Jones Financial Companies Lllp now owns 5,777 shares of the company’s stock valued at $309,000 after acquiring an additional 4,843 shares in 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.