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

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) saw a significant decrease in short interest during the month of October. As of October 30th, there was short interest totaling 3,537 shares, a decrease of 80.6% from the October 15th total of 18,267 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 5,181 shares, the days-to-cover ratio is presently 0.7 days.

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

Several large investors have recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. bought a new stake in First Trust Mid Cap Value AlphaDEX Fund in the third quarter valued at $306,000. Private Advisor Group LLC boosted its holdings in shares of First Trust Mid Cap Value AlphaDEX Fund by 3.5% during the third quarter. Private Advisor Group LLC now owns 8,560 shares of the company’s stock valued at $506,000 after acquiring an additional 291 shares during the period. IFG Advisory LLC acquired a new position in shares of First Trust Mid Cap Value AlphaDEX Fund during the third quarter valued at $38,000. Kestra Advisory Services LLC grew its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 13.8% during the third quarter. Kestra Advisory Services LLC now owns 10,661 shares of the company’s stock worth $630,000 after acquiring an additional 1,292 shares during the last quarter. Finally, Commonwealth Equity Services LLC bought a new position in shares of First Trust Mid Cap Value AlphaDEX Fund during the third quarter worth about $841,000.

First Trust Mid Cap Value AlphaDEX Fund Stock Performance

Shares of First Trust Mid Cap Value AlphaDEX Fund stock traded down $0.58 on Thursday, reaching $64.28. 5,640 shares of the company were exchanged, compared to its average volume of 7,354. The firm has a market cap of $241.05 million, a price-to-earnings ratio of 11.34 and a beta of 0.97. First Trust Mid Cap Value AlphaDEX Fund has a 1-year low of $51.98 and a 1-year high of $65.71. The company’s 50-day moving average is $62.33 and its two-hundred day moving average is $60.85.

First Trust Mid Cap Value AlphaDEX Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were paid a dividend of $0.2757 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Thursday, September 24th. This is an increase from First Trust Mid Cap Value AlphaDEX Fund’s previous quarterly dividend of $0.1676.

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.