First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Stock Price Up 0.3% – Still a Buy?

Shares of First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) were up 0.3% during mid-day trading on Monday . The stock traded as high as $55.83 and last traded at $55.63. Approximately 13,748 shares traded hands during mid-day 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 Trading Up 0.3 %

The stock has a market cap of $224.41 million, a PE ratio of 10.86 and a beta of 1.29. The company has a fifty day moving average of $54.40 and a 200-day moving average of $53.14.

First Trust Mid Cap Value AlphaDEX Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 26th were paid a dividend of $0.2554 per share. This represents a $1.02 annualized dividend and a yield of 1.84%. This is a boost from First Trust Mid Cap Value AlphaDEX Fund’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, September 26th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 95.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,816 shares of the company’s stock valued at $93,000 after purchasing an additional 885 shares during the period. Great Valley Advisor Group Inc. purchased a new stake in First Trust Mid Cap Value AlphaDEX Fund during the 3rd quarter valued at approximately $214,000. Jane Street Group LLC purchased a new position in shares of First Trust Mid Cap Value AlphaDEX Fund during the 3rd quarter worth approximately $223,000. Moors & Cabot Inc. purchased a new position in shares of First Trust Mid Cap Value AlphaDEX Fund during the 3rd quarter worth approximately $235,000. Finally, Jaffetilchin Investment Partners LLC purchased a new position in shares of First Trust Mid Cap Value AlphaDEX Fund during the 1st quarter worth approximately $256,000.

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.