First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Shares Down 2% - Here's What Happened

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK - Get Free Report)'s stock price was down 2% during trading on Monday . The company traded as low as $44.73 and last traded at $45.20. 15,612 shares were traded during trading, an increase of 3% from the average session volume of 15,101 shares. The stock had previously closed at $46.13.

First Trust Mid Cap Value AlphaDEX Fund Trading Up 1.8 %

The firm has a fifty day moving average of $49.42 and a 200 day moving average of $52.98. The company has a market capitalization of $185.76 million, a P/E ratio of 10.10 and a beta of 1.29.

First Trust Mid Cap Value AlphaDEX Fund Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 27th were paid a dividend of $0.1746 per share. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.47%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Triumph Capital Management bought a new stake in shares of First Trust Mid Cap Value AlphaDEX Fund during the fourth quarter valued at approximately $688,000. Raymond James Financial Inc. bought a new stake in First Trust Mid Cap Value AlphaDEX Fund in the fourth quarter worth $2,849,000. Wells Fargo & Company MN boosted its stake in shares of First Trust Mid Cap Value AlphaDEX Fund by 0.3% during the 4th quarter. Wells Fargo & Company MN now owns 248,621 shares of the company's stock worth $13,304,000 after purchasing an additional 689 shares during the period. Oarsman Capital Inc. bought a new position in shares of First Trust Mid Cap Value AlphaDEX Fund during the fourth quarter valued at approximately $63,000. Finally, Commonwealth Equity Services LLC increased its stake in First Trust Mid Cap Value AlphaDEX Fund by 3.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 40,258 shares of the company's stock worth $2,154,000 after purchasing an additional 1,424 shares during the period.

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.