Short Interest in First Trust Mid Cap Value AlphaDEX Fund Expands By 28.2%

The First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) saw a notable rise in short interest during October. As of October 15th, the total short interest reached 13,200 shares, marking an increase of 28.2% compared to the 10,300 shares reported on September 30th. Given the average daily trading volume of 9,800 shares, this currently translates to a short-interest ratio of 1.3 days.

First Trust Mid Cap Value AlphaDEX Fund Price Performance

On Monday, FNK stock gained $0.54, bringing its price to $54.03. Approximately 6,937 shares changed hands, which is lower than its average volume of 16,155 shares. The stock's 50-day moving average stands at $53.77, while the 200-day moving average is at $52.66. Over the past year, First Trust Mid Cap Value AlphaDEX Fund has recorded a 52-week low of $41.64 and a high of $56.14. The fund boasts a market capitalization of $218.82 million, a price-to-earnings ratio of 10.86, and a beta of 1.29.

First Trust Mid Cap Value AlphaDEX Fund Increases Dividend

Recently, the fund declared a quarterly dividend, which was distributed on Monday, September 30th. Shareholders who were on record as of Thursday, September 26th, received a dividend of $0.2554 per share. The ex-dividend date for this payout was also Thursday, September 26th. This brings the annualized dividend to $1.02, offering a yield of 1.89%. This represents an increase from the previous quarterly dividend of $0.21.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently adjusted their stakes in FNK. GAMMA Investing LLC increased its position by 95.1% during the second quarter, owning 1,816 shares valued at $93,000 after purchasing an additional 885 shares. Additionally, PCG Wealth Advisors LLC and Jaffetilchin Investment Partners LLC established new positions in the first and second quarters, respectively, investing approximately $238,000 and $256,000. Daymark Wealth Partners LLC also acquired a new stake worth about $282,000 during the second quarter. Cetera Advisors LLC raised its holdings in FNK by 26.9% in the first quarter, now owning 9,718 shares valued at $526,000 after acquiring an additional 2,062 shares.

About First Trust Mid Cap Value AlphaDEX Fund

The First Trust Mid Cap Value AlphaDEX Fund (FNK) is an exchange-traded fund based on the NASDAQ AlphaDEX Mid Cap Value index. It selects value stocks using a quantitative methodology and applies an equal-tiered weighting approach. Launched on April 18, 2011, FNK is managed by First Trust.

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