Short Interest in First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Decreases By 30.8%

The First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK - Get Free Report) experienced a notable drop in short interest during March. As of March 15, the total short interest stood at 11,700 shares, reflecting a significant decrease of 30.8% from the 16,900 shares reported at the end of February. Currently, about 0.3% of the total shares of FNK are short sold. Additionally, with an average daily trading volume of 20,500 shares, the short-interest ratio is measured at 0.6 days.

Institutional Inflows and Outflows

Recently, institutional investors have adjusted their positions in the First Trust Mid Cap Value AlphaDEX Fund. Benjamin Edwards Inc. increased its holdings by 0.6% during the last quarter of the year, now owning 32,955 shares valued at approximately $1.764 million after acquiring an additional 188 shares. Similarly, GAMMA Investing LLC raised its stake in FNK by 11.5%, owning 2,025 shares valued at around $108,000 after adding 209 shares to their portfolio.

Wells Fargo & Company MN also increased its shareholding by 0.3%, now holding 248,621 shares that are valued at $13.304 million after a purchase of 689 additional shares. In the fourth quarter, Oarsman Capital Inc. entered the scene by buying new shares worth $63,000, while Commonwealth Equity Services LLC raised their position by 3.7%, now holding 40,258 shares valued at $2.154 million after adding 1,424 shares.

Price Performance of FNK

On Friday, FNK's stock price dipped by $0.95 during midday trading, bringing its value to $50.15. The trading volume for FNK was reported at 4,465 shares, which is lower than the average volume of 14,350 shares. The stock's fifty-day moving average price is approximately $52.87, while its 200-day moving average price stands at $54.03. The shares have fluctuated between a twelve-month low of $48.71 and a high of $58.52. With a market cap of $210.63 million, FNK boasts a P/E ratio of 11.26 and has a beta of 1.29.

Dividend Declaration

Recently, First Trust Mid Cap Value AlphaDEX Fund announced a quarterly dividend scheduled for distribution on Monday, March 31. Shareholders on record as of Thursday, March 27, will receive a dividend payment of $0.1746 per share, with the ex-dividend date also set for March 27. This equates to an annualized dividend of $0.70, giving a yield of 1.39%.

Overview of First Trust Mid Cap Value AlphaDEX Fund

The First Trust Mid Cap Value AlphaDEX Fund is an exchange-traded fund (ETF) that tracks the NASDAQ AlphaDEX Mid Cap Value index. This ETF relies on quant methodology to select mid-cap value stocks and applies an equal-weighted scheme. The fund made its debut on April 18, 2011, and is managed by First Trust.

Investment Considerations

If you are contemplating investing in First Trust Mid Cap Value AlphaDEX Fund, it is crucial to analyze its current performance and trends. While analysts maintain a Hold rating on FNK, it's worth noting that other stocks might present better investment opportunities.

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