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

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totaling 11,463 shares, a drop of 24.8% from the March 31st total of 15,246 shares. Based on an average daily volume of 19,920 shares, the short-interest ratio is presently 0.6 days. Currently, 0.3% of the shares of the company are sold short.

First Trust Mid Cap Value AlphaDEX Fund Stock Performance

Shares of First Trust Mid Cap Value AlphaDEX Fund stock traded down $0.34 during trading on Wednesday, hitting $59.49. 10,324 shares of the company’s stock were exchanged, compared to its average volume of 8,640. The business has a 50-day simple moving average of $58.34 and a 200-day simple moving average of $56.99. First Trust Mid Cap Value AlphaDEX Fund has a 52-week low of $46.66 and a 52-week high of $61.27. The stock has a market capitalization of $214.16 million, a price-to-earnings ratio of 10.44 and a beta of 1.02.

First Trust Mid Cap Value AlphaDEX Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were issued a dividend of $0.252 per share. This represents a $1.01 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Thursday, March 26th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FNK. Jane Street Group LLC purchased a new position in First Trust Mid Cap Value AlphaDEX Fund in the first quarter valued at $464,000. Benjamin Edwards Inc. increased its holdings in First Trust Mid Cap Value AlphaDEX Fund by 39.4% in the second quarter. Benjamin Edwards Inc. now owns 44,966 shares of the company’s stock valued at $2,327,000 after buying an additional 12,702 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in First Trust Mid Cap Value AlphaDEX Fund by 200.0% in the second quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $124,000 after buying an additional 1,600 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in First Trust Mid Cap Value AlphaDEX Fund by 14.9% in the third quarter. Jones Financial Companies Lllp now owns 32,546 shares of the company’s stock valued at $1,807,000 after buying an additional 4,211 shares in the last quarter. Finally, Founders Financial Alliance LLC purchased a new position in First Trust Mid Cap Value AlphaDEX Fund in the third quarter valued at $160,000.

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.