First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Trading Up 0.3% – Here’s What Happened

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) rose 0.3% during mid-day trading on Monday . The company traded as high as $55.83 and last traded at $55.63. Approximately 13,748 shares changed hands during trading, a decline of 15% from the average daily volume of 16,211 shares. The stock had previously closed at $55.45.

First Trust Mid Cap Value AlphaDEX Fund Stock Performance

The firm has a market cap of $225.28 million, a P/E ratio of 10.86 and a beta of 1.29. The firm’s fifty day moving average is $54.24 and its 200 day moving average is $53.10.

First Trust Mid Cap Value AlphaDEX Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 26th were issued a dividend of $0.2554 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend was Thursday, September 26th. This is a boost 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 added to or reduced their stakes in the company. Jane Street Group LLC acquired a new stake in First Trust Mid Cap Value AlphaDEX Fund in the 3rd quarter worth about $223,000. Stifel Financial Corp raised its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 6.5% in the third quarter. Stifel Financial Corp now owns 24,407 shares of the company’s stock valued at $1,330,000 after buying an additional 1,479 shares in the last quarter. Benjamin Edwards Inc. acquired a new stake in shares of First Trust Mid Cap Value AlphaDEX Fund in the third quarter valued at approximately $1,786,000. Great Valley Advisor Group Inc. bought a new stake in shares of First Trust Mid Cap Value AlphaDEX Fund in the third quarter valued at approximately $214,000. Finally, Moors & Cabot Inc. acquired a new stake in First Trust Mid Cap Value AlphaDEX Fund during the third quarter worth approximately $235,000.

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.