First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) Sees Unusually-High Trading Volume – Should You Buy?

First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) shares saw unusually-strong trading volume on Thursday . Approximately 75,225 shares were traded during mid-day trading, an increase of 204% from the previous session’s volume of 24,780 shares.The stock last traded at $136.2220 and had previously closed at $135.37.

First Trust Mid Cap Core AlphaDEX Fund Stock Down 1.2%

The firm has a fifty day moving average of $128.07 and a 200-day moving average of $124.37. The stock has a market capitalization of $1.25 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, December 12th were given a $0.3914 dividend. The ex-dividend date was Friday, December 12th. This represents a $1.57 annualized dividend and a dividend yield of 1.2%. This is a boost from First Trust Mid Cap Core AlphaDEX Fund’s previous quarterly dividend of $0.19.

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

Several hedge funds have recently added to or reduced their stakes in the business. Baird Financial Group Inc. lifted its holdings in shares of First Trust Mid Cap Core AlphaDEX Fund by 7.3% in the second quarter. Baird Financial Group Inc. now owns 176,257 shares of the company’s stock valued at $20,243,000 after purchasing an additional 11,955 shares in the last quarter. Three Cord True Wealth Management LLC raised its position in shares of First Trust Mid Cap Core AlphaDEX Fund by 2.4% during the 3rd quarter. Three Cord True Wealth Management LLC now owns 119,613 shares of the company’s stock worth $15,000,000 after purchasing an additional 2,755 shares during the last quarter. Lakeridge Wealth Management LLC raised its position in shares of First Trust Mid Cap Core AlphaDEX Fund by 6.4% during the 2nd quarter. Lakeridge Wealth Management LLC now owns 79,719 shares of the company’s stock worth $9,156,000 after purchasing an additional 4,790 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in First Trust Mid Cap Core AlphaDEX Fund by 22.5% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 69,271 shares of the company’s stock valued at $8,687,000 after buying an additional 12,718 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in First Trust Mid Cap Core AlphaDEX Fund during the 2nd quarter valued at $7,460,000.

First Trust Mid Cap Core AlphaDEX Fund Company Profile

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.