First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Trading Down 0.8% – Here’s Why

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK)’s stock price was down 0.8% during trading on Friday . The stock traded as low as $50.27 and last traded at $50.51. Approximately 4,712 shares changed hands during trading, a decline of 67% from the average daily volume of 14,466 shares. The stock had previously closed at $50.91.

First Trust Mid Cap Value AlphaDEX Fund Stock Down 0.8 %

The company has a market capitalization of $204.57 million, a PE ratio of 11.26 and a beta of 1.28. The stock’s fifty day moving average price is $53.22 and its two-hundred day moving average price is $54.07.

Hedge Funds Weigh In On First Trust Mid Cap Value AlphaDEX Fund

Several hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in First Trust Mid Cap Value AlphaDEX Fund in the fourth quarter valued at $2,849,000. Commonwealth Equity Services LLC boosted its stake in shares of First Trust Mid Cap Value AlphaDEX Fund by 3.7% during 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 in the last quarter. Jones Financial Companies Lllp increased its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 518.5% during the fourth quarter. Jones Financial Companies Lllp now owns 5,777 shares of the company’s stock valued at $309,000 after buying an additional 4,843 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in First Trust Mid Cap Value AlphaDEX Fund in the fourth quarter worth about $1,075,000. Finally, Total Investment Management Inc. boosted its position in First Trust Mid Cap Value AlphaDEX Fund by 2.1% during the 4th quarter. Total Investment Management Inc. now owns 1,325,412 shares of the company’s stock valued at $70,923,000 after acquiring an additional 27,348 shares in the last quarter.

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.