First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Stock Price Down 0.9% – Here’s What Happened

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK)’s stock price traded down 0.9% on Wednesday . The company traded as low as $64.16 and last traded at $64.1560. 2,722 shares traded hands during trading, a decline of 60% from the average session volume of 6,794 shares. The stock had previously closed at $64.73.

First Trust Mid Cap Value AlphaDEX Fund Stock Performance

The firm’s fifty day simple moving average is $61.59 and its 200-day simple moving average is $59.75. The stock has a market cap of $231.30 million, a P/E ratio of 10.44 and a beta of 0.96.

First Trust Mid Cap Value AlphaDEX Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were given a dividend of $0.1676 per share. The ex-dividend date was Thursday, June 25th. This represents a $0.67 annualized dividend and a dividend yield of 1.0%.

Hedge Funds Weigh In On First Trust Mid Cap Value AlphaDEX Fund

A number of hedge funds have recently bought and sold shares of FNK. Equitable Holdings Inc. grew its stake in First Trust Mid Cap Value AlphaDEX Fund by 2.2% in the third quarter. Equitable Holdings Inc. now owns 18,464 shares of the company’s stock valued at $1,020,000 after acquiring an additional 406 shares during the period. Bessemer Group Inc. acquired a new position in shares of First Trust Mid Cap Value AlphaDEX Fund during the first quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of First Trust Mid Cap Value AlphaDEX Fund during the third quarter worth approximately $31,000. Keel Point LLC lifted its holdings in shares of First Trust Mid Cap Value AlphaDEX Fund by 7.8% in the 4th quarter. Keel Point LLC now owns 11,757 shares of the company’s stock worth $654,000 after purchasing an additional 848 shares in the last quarter. Finally, Sound Income Strategies LLC bought a new position in shares of First Trust Mid Cap Value AlphaDEX Fund in the 4th quarter worth $58,000.

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.