Short Interest in First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Rises 28.2%

The First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) experienced a notable increase in short interest for the month of October. As of October 15th, short interest amounted to 13,200 shares, reflecting a significant rise of 28.2% from the previous total of 10,300 shares recorded on September 30th. Given an average daily volume of 9,800 shares, the current short-interest ratio stands at 1.3 days.

First Trust Mid Cap Value AlphaDEX Fund Price Performance

On Monday, FNK stock saw a modest increase, trading up by $0.54 to reach a price of $54.03. During the trading session, 6,937 shares changed hands, which is lower than its average volume of 16,155. The 50-day moving average price for the fund is $53.77, while its 200-day moving average price is $52.66. The First Trust Mid Cap Value AlphaDEX Fund has recorded a 52-week low of $41.64 and a 52-week high of $56.14. The total market capitalization of the fund stands at $218.82 million, and it has a price-to-earnings (P/E) ratio of 10.86 with a beta of 1.29.

First Trust Mid Cap Value AlphaDEX Fund Increases Dividend

Recently, the fund announced a quarterly dividend that was issued on September 30th. Shareholders who were on record as of September 26th received a dividend of $0.2554 per share. The ex-dividend date was also on September 26th. This dividend payout indicates an annualized amount of $1.02, providing a yield of 1.89%. This represents an increase from the prior quarterly dividend of $0.21.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made adjustments to their holdings in FNK. For instance, GAMMA Investing LLC increased its position in the fund by 95.1% during the second quarter, acquiring an additional 885 shares to bring its total ownership to 1,816 shares valued at $93,000. Similarly, PCG Wealth Advisors LLC established a new stake in FNK during the first quarter, amounting to roughly $238,000. Other notable additions include Jaffetilchin Investment Partners LLC, which also acquired a new stake during the first quarter, and Daymark Wealth Partners LLC, which increased its holdings further in the second quarter. Cetera Advisors LLC also raised its position in FNK by 26.9% in the first quarter, holding a total of 9,718 shares worth approximately $526,000.

About First Trust Mid Cap Value AlphaDEX Fund

The First Trust Mid Cap Value AlphaDEX Fund (FNK) is an exchange-traded fund designed to track the NASDAQ AlphaDEX Mid Cap Value Index. It selects value stocks based on quantitative methods while using an equal-tiered weighting system. The fund was launched on April 18, 2011, and is managed by First Trust.

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