First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Shares Up 1.7% – Here’s What Happened

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK)’s stock price shot up 1.7% during trading on Wednesday . The company traded as high as $58.83 and last traded at $58.83. 14,192 shares changed hands during trading, an increase of 73% from the average session volume of 8,184 shares. The stock had previously closed at $57.82.

First Trust Mid Cap Value AlphaDEX Fund Trading Up 0.6%

The stock has a market capitalization of $213.38 million, a price-to-earnings ratio of 10.44 and a beta of 0.98. The stock has a 50-day moving average price of $58.16 and a 200 day moving average price of $57.48.

First Trust Mid Cap Value AlphaDEX Fund Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were paid a $0.252 dividend. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $1.01 dividend on an annualized basis and a yield of 1.7%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FNK. Jane Street Group LLC purchased a new position in First Trust Mid Cap Value AlphaDEX Fund in the 1st quarter valued at about $464,000. Benjamin Edwards Inc. lifted its stake in First Trust Mid Cap Value AlphaDEX Fund by 39.4% in the 2nd quarter. Benjamin Edwards Inc. now owns 44,966 shares of the company’s stock valued at $2,327,000 after buying an additional 12,702 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in First Trust Mid Cap Value AlphaDEX Fund by 200.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock valued at $124,000 after buying an additional 1,600 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in First Trust Mid Cap Value AlphaDEX Fund by 14.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 32,546 shares of the company’s stock worth $1,807,000 after purchasing an additional 4,211 shares in the last quarter. Finally, Founders Financial Alliance LLC acquired a new position in shares of First Trust Mid Cap Value AlphaDEX Fund during the 3rd quarter worth approximately $160,000.

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.