First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) Sees Strong Trading Volume - What's Next?

The First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) experienced a significant surge in trading volume on Thursday, with around 94,362 shares changing hands. This marks a remarkable increase of 174% compared to the prior session's volume of 34,427 shares. The stock's last trading price was $121.33, slightly up from its previous close of $121.29.

Price Performance of First Trust Mid Cap Core AlphaDEX Fund

The average price of the stock over the last fifty days stands at $120.23, while its two-hundred day moving average price is $116.64. FNX has a total market capitalization of $1.29 billion, a price-to-earnings ratio of 13.43, and a beta of 1.20, indicating its volatility compared to the broader market.

Recent Increase in Dividend

In a positive development for investors, the fund has recently announced an increase in its dividend. This dividend was paid on Tuesday, December 31st, to shareholders on record as of Friday, December 13th, who received $0.4657 per share. This represents an increase from the previous dividend payout of $0.35.

Institutional Investors Showing Interest

A variety of institutional investors and hedge funds have recently adjusted their positions in the First Trust Mid Cap Core AlphaDEX Fund (FNX). For example, Kingswood Wealth Advisors LLC made a new purchase valued at approximately $221,000 during the fourth quarter. Similarly, Pure Financial Advisors LLC and Schrum Private Wealth Management LLC added new positions worth around $239,000 and $249,000, respectively. Additionally, Elios Financial Group Inc. invested about $272,000 in FNX, while FMR LLC increased its stake by 8.4% in the third quarter, acquiring an additional 205 shares to bring their total holdings to 2,648 shares, valued at $310,000.

Overview of First Trust Mid Cap Core AlphaDEX Fund

The First Trust Mid Cap Core AlphaDEX Fund (FNX) is an ETF that tracks the NASDAQ AlphaDEX Mid Cap Core index. This fund follows an equal-weighted index of U.S. mid-cap stocks selected through a combination of growth and value criteria. FNX was launched on May 8, 2007, and is managed by First Trust.

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