Short Interest in First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Expands By 28.2%

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK - Get Free Report) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 13,200 shares, an increase of 28.2% from the September 30th total of 10,300 shares. Based on an average daily volume of 9,800 shares, the short-interest ratio is currently 1.3 days.

First Trust Mid Cap Value AlphaDEX Fund Price Performance

FNK stock traded up $0.54 during trading on Monday, reaching $54.03. 6,937 shares of the stock traded hands, compared to its average volume of 16,155. The business's 50 day moving average price is $53.77 and its 200-day moving average price is $52.66. First Trust Mid Cap Value AlphaDEX Fund has a 52-week low of $41.64 and a 52-week high of $56.14. The firm has a market capitalization of $218.82 million, a PE ratio of 10.86 and a beta of 1.29.

First Trust Mid Cap Value AlphaDEX Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 26th were issued a $0.2554 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.02 dividend on an annualized basis and a yield of 1.89%. This is an increase from First Trust Mid Cap Value AlphaDEX Fund's previous quarterly dividend of $0.21.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FNK. GAMMA Investing LLC raised its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 95.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,816 shares of the company's stock worth $93,000 after purchasing an additional 885 shares during the period. PCG Wealth Advisors LLC acquired a new stake in shares of First Trust Mid Cap Value AlphaDEX Fund during the 1st quarter worth approximately $238,000. Jaffetilchin Investment Partners LLC acquired a new stake in shares of First Trust Mid Cap Value AlphaDEX Fund during the 1st quarter worth approximately $256,000. Daymark Wealth Partners LLC acquired a new stake in shares of First Trust Mid Cap Value AlphaDEX Fund during the 2nd quarter worth approximately $282,000. Finally, Cetera Advisors LLC raised its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 26.9% during the 1st quarter. Cetera Advisors LLC now owns 9,718 shares of the company's stock worth $526,000 after purchasing an additional 2,062 shares during the period.

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.

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