Short Interest in First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Declines By 48.0%

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) was the recipient of a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 7,883 shares, a decline of 48.0% from the June 15th total of 15,146 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 6,904 shares, the days-to-cover ratio is currently 1.1 days.

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

A number of institutional investors have recently added to or reduced their stakes in FNK. Jane Street Group LLC bought a new stake in shares of First Trust Mid Cap Value AlphaDEX Fund in the 1st quarter valued at approximately $464,000. Benjamin Edwards Inc. lifted its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 39.4% during the 2nd quarter. Benjamin Edwards Inc. now owns 44,966 shares of the company’s stock worth $2,327,000 after buying an additional 12,702 shares during the period. Geneos Wealth Management Inc. boosted its stake in First Trust Mid Cap Value AlphaDEX Fund by 200.0% in the 2nd 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. Equitable Holdings Inc. boosted its stake in First Trust Mid Cap Value AlphaDEX Fund by 2.2% in the 3rd quarter. Equitable Holdings Inc. now owns 18,464 shares of the company’s stock valued at $1,020,000 after buying an additional 406 shares in the last quarter. Finally, Raymond James Financial Inc. grew its position in First Trust Mid Cap Value AlphaDEX Fund by 14.1% in the third quarter. Raymond James Financial Inc. now owns 57,914 shares of the company’s stock valued at $3,200,000 after acquiring an additional 7,175 shares during the period.

First Trust Mid Cap Value AlphaDEX Fund Stock Performance

Shares of FNK stock traded down $0.47 during mid-day trading on Friday, reaching $62.64. The company’s stock had a trading volume of 4,708 shares, compared to its average volume of 7,213. The firm’s 50-day moving average is $60.21 and its two-hundred day moving average is $59.11. The company has a market cap of $225.50 million, a P/E ratio of 10.44 and a beta of 0.96. First Trust Mid Cap Value AlphaDEX Fund has a 1-year low of $51.29 and a 1-year high of $63.81.

First Trust Mid Cap Value AlphaDEX Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were given a $0.1676 dividend. This represents a $0.67 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, June 25th.

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.