First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) Hits New 12-Month High – Still a Buy?

Shares of First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $138.71 and last traded at $137.42, with a volume of 28363 shares traded. The stock had previously closed at $137.74.

First Trust Mid Cap Core AlphaDEX Fund Price Performance

The business has a fifty day moving average price of $131.18 and a 200 day moving average price of $125.97. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 14.19 and a beta of 1.12.

First Trust Mid Cap Core AlphaDEX Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th were given a dividend of $0.3914 per share. This is a positive change from First Trust Mid Cap Core AlphaDEX Fund’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, December 12th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 1.1%.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new stake in First Trust Mid Cap Core AlphaDEX Fund in the third quarter worth approximately $25,000. MTM Investment Management LLC acquired a new stake in shares of First Trust Mid Cap Core AlphaDEX Fund in the second quarter valued at $28,000. Atlantic Union Bankshares Corp bought a new position in First Trust Mid Cap Core AlphaDEX Fund during the second quarter valued at about $44,000. Blair William & Co. IL acquired a new position in First Trust Mid Cap Core AlphaDEX Fund during the second quarter worth about $47,000. Finally, Russell Investments Group Ltd. raised its position in First Trust Mid Cap Core AlphaDEX Fund by 5,077.8% in the third quarter. Russell Investments Group Ltd. now owns 466 shares of the company’s stock worth $58,000 after acquiring an additional 457 shares in the last quarter.

About First Trust Mid Cap Core AlphaDEX Fund

The First Trust Mid Cap Core AlphaDEX Fund (FNX) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Mid Cap Core index. The fund tracks a tiered equal-weighted index of US mid-cap equities selected using both growth and value screens. FNX was launched on May 8, 2007 and is managed by First Trust.