First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Short Interest Down 8.8% in September

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) was the recipient of a large drop in short interest in September. As of September 30th, there was short interest totalling 10,300 shares, a drop of 8.8% from the September 15th total of 11,300 shares. Based on an average trading volume of 10,500 shares, the short-interest ratio is presently 1.0 days.

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

Several institutional investors and hedge funds have recently made changes to their positions in FNK. PCG Wealth Advisors LLC purchased a new stake in First Trust Mid Cap Value AlphaDEX Fund during the 1st quarter valued at about $238,000. Commonwealth Equity Services LLC boosted its stake in shares of First Trust Mid Cap Value AlphaDEX Fund by 4.3% during the first quarter. Commonwealth Equity Services LLC now owns 36,907 shares of the company’s stock valued at $1,998,000 after purchasing an additional 1,505 shares during the period. Kingsview Wealth Management LLC boosted its stake in shares of First Trust Mid Cap Value AlphaDEX Fund by 6.8% during the first quarter. Kingsview Wealth Management LLC now owns 57,991 shares of the company’s stock valued at $3,140,000 after purchasing an additional 3,705 shares during the period. Jaffetilchin Investment Partners LLC purchased a new position in shares of First Trust Mid Cap Value AlphaDEX Fund in the first quarter worth $256,000. Finally, Cetera Advisors LLC increased its stake in shares of First Trust Mid Cap Value AlphaDEX Fund by 26.9% in the first quarter. Cetera Advisors LLC now owns 9,718 shares of the company’s stock worth $526,000 after buying an additional 2,062 shares during the period.

First Trust Mid Cap Value AlphaDEX Fund Stock Up 0.1 %

NASDAQ:FNK traded up $0.03 during midday trading on Thursday, hitting $55.15. The company had a trading volume of 17,512 shares, compared to its average volume of 16,515. The company has a market capitalization of $223.36 million, a PE ratio of 10.86 and a beta of 1.29. First Trust Mid Cap Value AlphaDEX Fund has a 52-week low of $41.61 and a 52-week high of $56.14. The stock’s fifty day moving average price is $53.48 and its 200-day moving average price is $52.60.

First Trust Mid Cap Value AlphaDEX Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 26th were paid a dividend of $0.2554 per share. The ex-dividend date was Thursday, September 26th. This is an increase from First Trust Mid Cap Value AlphaDEX Fund’s previous quarterly dividend of $0.21. This represents a $1.02 annualized dividend and a dividend yield of 1.85%.

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.