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 growth in short interest during the month of November. As of November 15th, there was short interest totalling 52,200 shares, a growth of 93.3% from the October 31st total of 27,000 shares. Based on an average daily volume of 10,500 shares, the short-interest ratio is currently 5.0 days.

Institutional Trading of First Trust Mid Cap Value AlphaDEX Fund

A number of hedge funds have recently made changes to their positions in the company. Total Investment Management Inc. lifted its stake in shares of First Trust Mid Cap Value AlphaDEX Fund by 0.7% in the second quarter. Total Investment Management Inc. now owns 1,311,582 shares of the company’s stock worth $66,953,000 after acquiring an additional 8,555 shares during the period. Gladstone Institutional Advisory LLC raised its holdings in First Trust Mid Cap Value AlphaDEX Fund by 12.5% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 66,377 shares of the company’s stock worth $3,617,000 after purchasing an additional 7,389 shares during the last quarter. Raymond James & Associates lifted its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 1.3% in 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 period. Commonwealth Equity Services LLC boosted its stake in shares of 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 valued at $1,973,000 after purchasing an additional 1,736 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 0.6% during the third quarter. Janney Montgomery Scott LLC now owns 37,585 shares of the company’s stock worth $2,048,000 after buying an additional 207 shares during the period.

First Trust Mid Cap Value AlphaDEX Fund Stock Performance

Shares of FNK traded up $0.14 during mid-day trading on Friday, reaching $57.90. The company had a trading volume of 2,813 shares, compared to its average volume of 16,078. The company’s 50 day simple moving average is $54.96 and its 200 day simple moving average is $53.37. The company has a market capitalization of $234.50 million, a price-to-earnings ratio of 10.86 and a beta of 1.29. First Trust Mid Cap Value AlphaDEX Fund has a 1-year low of $45.84 and a 1-year high of $58.52.

First Trust Mid Cap Value AlphaDEX Fund Increases Dividend

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

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.