Short Interest in First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Declines By 30.8%

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK - Get Free Report) was the recipient of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 11,700 shares, a decrease of 30.8% from the February 28th total of 16,900 shares. Based on an average daily volume of 20,500 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.3% of the company's shares are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FNK. Benjamin Edwards Inc. increased its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 0.6% during the 4th quarter. Benjamin Edwards Inc. now owns 32,955 shares of the company's stock worth $1,764,000 after purchasing an additional 188 shares during the last quarter. GAMMA Investing LLC increased its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 11.5% during the fourth quarter. GAMMA Investing LLC now owns 2,025 shares of the company's stock valued at $108,000 after acquiring an additional 209 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of First Trust Mid Cap Value AlphaDEX Fund by 0.3% in the 4th quarter. Wells Fargo & Company MN now owns 248,621 shares of the company's stock valued at $13,304,000 after acquiring an additional 689 shares during the period. Oarsman Capital Inc. purchased a new position in shares of First Trust Mid Cap Value AlphaDEX Fund during the 4th quarter worth approximately $63,000. Finally, Commonwealth Equity Services LLC increased its holdings in First Trust Mid Cap Value AlphaDEX Fund by 3.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 40,258 shares of the company's stock valued at $2,154,000 after purchasing an additional 1,424 shares during the last quarter.

First Trust Mid Cap Value AlphaDEX Fund Trading Down 6.1 %

FNK stock traded down $3.12 during trading on Thursday, reaching $48.27. 7,054 shares of the stock were exchanged, compared to its average volume of 14,283. The business has a 50 day moving average price of $52.59 and a 200-day moving average price of $54.01. First Trust Mid Cap Value AlphaDEX Fund has a 1 year low of $47.81 and a 1 year high of $58.52. The firm has a market capitalization of $195.49 million, a price-to-earnings ratio of 11.26 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. Stockholders of record on Thursday, March 27th were given a dividend of $0.1746 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Thursday, March 27th.

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.