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

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) was the target of a significant decrease in short interest during 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. Approximately 0.3% of the company’s stock are short sold. Based on an average daily volume of 20,500 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Benjamin Edwards Inc. lifted its stake in First Trust Mid Cap Value AlphaDEX Fund by 0.6% in the 4th quarter. Benjamin Edwards Inc. now owns 32,955 shares of the company’s stock valued at $1,764,000 after purchasing an additional 188 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of First Trust Mid Cap Value AlphaDEX Fund by 11.5% during the 4th quarter. GAMMA Investing LLC now owns 2,025 shares of the company’s stock worth $108,000 after acquiring an additional 209 shares during the period. Wells Fargo & Company MN increased its holdings 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 acquiring an additional 689 shares during the last quarter. Oarsman Capital Inc. bought a new stake in First Trust Mid Cap Value AlphaDEX Fund in the 4th quarter valued at $63,000. Finally, Commonwealth Equity Services LLC boosted its position in First Trust Mid Cap Value AlphaDEX Fund by 3.7% during 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 Price Performance

FNK stock traded down $0.95 during midday trading on Friday, hitting $50.15. The company’s stock had a trading volume of 4,465 shares, compared to its average volume of 14,350. The company’s fifty day moving average price is $52.87 and its 200 day moving average price is $54.03. First Trust Mid Cap Value AlphaDEX Fund has a twelve month low of $48.71 and a twelve month high of $58.52. The stock has a market capitalization of $210.63 million, a P/E ratio of 11.26 and a beta of 1.29.

First Trust Mid Cap Value AlphaDEX Fund Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 27th will be given a dividend of $0.1746 per share. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $0.70 annualized dividend and a yield of 1.39%.

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.