First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) Stock Price Up 1.2% – Here’s What Happened

The First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) saw a 1.2% increase in its stock price during mid-day trading on Friday. The stock reached a peak price of $117.17 and closed at the same price, with approximately 13,896 shares traded. This trading volume reflects a significant drop of 32% from the average daily volume of 20,398 shares. Before this uptick, the stock had closed at a previous price of $115.77.

First Trust Mid Cap Core AlphaDEX Fund Price Performance

Currently, FNX boasts a fifty-day simple moving average of $120.56 and a two-hundred-day simple moving average of $115.71. The company has a market capitalization of $1.25 billion, a price-to-earnings (P/E) ratio of 13.43, and a beta of 1.20, indicating moderate volatility compared to the market.

First Trust Mid Cap Core AlphaDEX Fund Increases Dividend

The fund also recently announced a dividend increase. The dividend, amounting to $0.4657, was paid on Tuesday, December 31st. This payout is an increase from the previous dividend of $0.35, which reflects the fund’s commitment to providing returns to its shareholders. Shareholders of record on Friday, December 13th were eligible for this dividend, which was declared before the ex-dividend date of the same day.

Institutional Investors Weigh In On First Trust Mid Cap Core AlphaDEX Fund

In recent quarters, hedge funds have actively participated in the buying and selling of FNX shares. For instance, LPL Financial LLC increased its shares by 4.9% in the third quarter, bringing its total holdings to 902,719 shares, valued at $105,753,000 after acquiring an additional 42,038 shares. Similarly, National Bank of Canada FI reported a substantial increase of 9,554.2% in its position, now holding 191,926 shares worth $22,484,000 after purchasing an extra 189,938 shares. Other institutions, like International Assets Investment Management LLC and Stifel Financial Corp, also boosted their stakes significantly, reflecting a strong institutional interest in the fund.

About First Trust Mid Cap Core AlphaDEX Fund

The First Trust Mid Cap Core AlphaDEX Fund (FNX) is an exchange-traded fund (ETF) that tracks the NASDAQ AlphaDEX Mid Cap Core Index. Launched on May 8, 2007, the fund utilizes a tiered equal-weighted indexing method to select US mid-cap stocks based on both growth and value criteria. Managed by First Trust, FNX aims to achieve long-term capital appreciation for its investors.

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