First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) Stock Price Up 1.2% – Here’s What Happened

The First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX – Get Free Report) saw its stock price increase by 1.2% during mid-day trading on Friday. The stock reached a height of $117.17 and ended the trading day also at $117.17. In total, around 13,896 shares were exchanged during this period, which represents a notable 32% decrease from the typical daily trading volume of 20,398 shares. The stock's previous closing price was $115.77.

Price Performance Overview

The First Trust Mid Cap Core AlphaDEX Fund has a fifty-day simple moving average of $120.56, while its two-hundred-day simple moving average stands at $115.71. The fund currently holds a market capitalization of $1.25 billion, a price-to-earnings (P/E) ratio of 13.43, and a beta of 1.20, indicating its volatility compared to the overall market.

Dividend Increase Announcement

Recently, the First Trust Mid Cap Core AlphaDEX Fund declared a dividend payable on December 31st. Shareholders who were on record by December 13th received a dividend of $0.4657, which represents an increase from the previous dividend of $0.35. The ex-dividend date was also set for December 13th.

Institutional Investment Activities

Recently, several institutional investors have been active in buying and selling shares of the First Trust Mid Cap Core AlphaDEX Fund. LPL Financial LLC increased its holdings by 4.9% during the third quarter, now owning 902,719 shares, valued at approximately $105.75 million. Likewise, the National Bank of Canada FI has dramatically raised its position by 9,554.2%, acquiring 191,926 shares worth around $22.48 million after purchasing an additional 189,938 shares during the quarter. International Assets Investment Management LLC has also boosted its stake significantly by 10,294.5%, currently holding 184,607 shares valued at $21.63 million. Additional firms such as Stifel Financial Corp and Lakeridge Wealth Management LLC have also raised their stakes during the third quarter.

About the First Trust Mid Cap Core AlphaDEX Fund

The First Trust Mid Cap Core AlphaDEX Fund, trading under the ticker FNX, is an exchange-traded fund that is linked to the NASDAQ AlphaDEX Mid Cap Core index. It focuses on selecting U.S. mid-cap equities using both growth and value metrics. This fund was launched on May 8, 2007, and is managed by First Trust.

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FNX, Investing, Dividends