First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Short Interest Up 358.0% in August

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 54,500 shares, an increase of 358.0% from the August 15th total of 11,900 shares. Based on an average daily trading volume, of 12,000 shares, the days-to-cover ratio is presently 4.5 days.

First Trust Mid Cap Value AlphaDEX Fund Stock Performance

Shares of FNK stock traded up $0.43 during midday trading on Thursday, hitting $51.75. 4,665 shares of the company were exchanged, compared to its average volume of 18,036. 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 market capitalization of $212.16 million, a P/E ratio of 10.86 and a beta of 1.29. The firm’s 50 day moving average price is $52.96 and its two-hundred day moving average price is $52.22.

First Trust Mid Cap Value AlphaDEX Fund Dividend Announcement

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 dividend of $0.212 per share. This represents a $0.85 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Thursday, June 27th.

Institutional Trading of First Trust Mid Cap Value AlphaDEX Fund

Several hedge funds have recently added to or reduced their stakes in the company. Daymark Wealth Partners LLC acquired a new position in shares of First Trust Mid Cap Value AlphaDEX Fund in the second quarter valued at about $282,000. Leelyn Smith LLC acquired a new position in shares of First Trust Mid Cap Value AlphaDEX Fund during the 2nd quarter worth approximately $546,000. Total Investment Management Inc. increased its holdings in shares of First Trust Mid Cap Value AlphaDEX Fund by 0.7% during the second quarter. Total Investment Management Inc. now owns 1,311,582 shares of the company’s stock worth $66,953,000 after purchasing an additional 8,555 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of First Trust Mid Cap Value AlphaDEX Fund by 4.7% during the second quarter. Commonwealth Equity Services LLC now owns 38,643 shares of the company’s stock worth $1,973,000 after purchasing an additional 1,736 shares during the period. Finally, Private Advisory Group LLC acquired a new stake in shares of First Trust Mid Cap Value AlphaDEX Fund in the second quarter valued at approximately $1,022,000.

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.