First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Short Interest Update

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) was the recipient of a significant drop in short interest during the month of August. As of August 15th, there was short interest totalling 11,900 shares, a drop of 16.8% from the July 31st total of 14,300 shares. Based on an average trading volume of 11,300 shares, the short-interest ratio is currently 1.1 days.

First Trust Mid Cap Value AlphaDEX Fund Price Performance

FNK stock traded up $0.32 on Monday, reaching $54.65. The company’s stock had a trading volume of 10,800 shares, compared to its average volume of 18,482. The company has a market capitalization of $224.07 million, a P/E ratio of 10.86 and a beta of 1.29. First Trust Mid Cap Value AlphaDEX Fund has a 52 week low of $41.61 and a 52 week high of $56.14. The firm has a fifty day moving average of $52.74 and a two-hundred day moving average of $52.13.

First Trust Mid Cap Value AlphaDEX Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 27th were issued a $0.212 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.85 annualized dividend and a dividend yield of 1.55%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FNK. Level Four Advisory Services LLC boosted its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 9.6% in the fourth quarter. Level Four Advisory Services LLC now owns 6,126 shares of the company’s stock worth $312,000 after buying an additional 538 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in First Trust Mid Cap Value AlphaDEX Fund by 1.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 58,053 shares of the company’s stock valued at $3,143,000 after acquiring an additional 720 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of First Trust Mid Cap Value AlphaDEX Fund by 95.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,816 shares of the company’s stock valued at $93,000 after purchasing an additional 885 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in First Trust Mid Cap Value AlphaDEX Fund by 4.3% in the first quarter. Commonwealth Equity Services LLC now owns 36,907 shares of the company’s stock worth $1,998,000 after purchasing an additional 1,505 shares in the last quarter. Finally, Cetera Advisors LLC increased its position in First Trust Mid Cap Value AlphaDEX Fund by 26.9% during the first quarter. Cetera Advisors LLC now owns 9,718 shares of the company’s stock worth $526,000 after buying an additional 2,062 shares during the last quarter.

About First Trust Mid Cap Value AlphaDEX Fund

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.