First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Trading 0.1% Higher – Should You Buy?

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) shot up 0.1% during trading on Wednesday . The stock traded as high as $64.78 and last traded at $64.62. 7,391 shares changed hands during mid-day trading, an increase of 13% from the average daily volume of 6,566 shares. The stock had previously closed at $64.55.

First Trust Mid Cap Value AlphaDEX Fund Stock Down 0.2%

The business’s fifty day moving average is $62.88 and its two-hundred day moving average is $60.33. The stock has a market cap of $232.28 million, a price-to-earnings ratio of 10.44 and a beta of 0.96.

First Trust Mid Cap Value AlphaDEX Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were given a $0.1676 dividend. This represents a $0.67 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, June 25th.

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

Several institutional investors have recently modified their holdings of the business. Bessemer Group Inc. acquired a new stake in shares of First Trust Mid Cap Value AlphaDEX Fund in the first quarter valued at $26,000. Northwestern Mutual Wealth Management Co. acquired a new position in First Trust Mid Cap Value AlphaDEX Fund during the 3rd quarter worth $31,000. Parallel Advisors LLC acquired a new position in First Trust Mid Cap Value AlphaDEX Fund during the 1st quarter worth $110,000. Geneos Wealth Management Inc. increased its holdings in First Trust Mid Cap Value AlphaDEX Fund by 200.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,400 shares of the company’s stock worth $124,000 after purchasing an additional 1,600 shares during the period. Finally, Rockefeller Capital Management L.P. increased its holdings in First Trust Mid Cap Value AlphaDEX Fund by 69.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,876 shares of the company’s stock worth $160,000 after purchasing an additional 1,183 shares during the period.

About First Trust Mid Cap Value AlphaDEX Fund

The First Trust Mid Cap Value AlphaDEX Fund (FNK) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Mid Cap Value index. The fund tracks a mid-cap index that selects value stocks using quant methodology and applies an equal-tiered weighting scheme. FNK was launched on Apr 18, 2011 and is managed by First Trust.