First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) Sees Large Volume Increase – Should You Buy?

Shares of First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) saw unusually-strong trading volume on Thursday. Approximately 14,402 shares traded hands during trading, a decline of 33% from the previous session’s volume of 21,344 shares. The stock last traded at $138.6310 and had previously closed at $138.85.

First Trust Mid Cap Core AlphaDEX Fund Price Performance

The company has a market cap of $1.35 billion, a PE ratio of 14.19 and a beta of 1.07. The stock’s 50-day moving average is $140.48 and its 200 day moving average is $140.77.

First Trust Mid Cap Core AlphaDEX Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were paid a dividend of $0.4106 per share. This is a positive change from First Trust Mid Cap Core AlphaDEX Fund’s previous quarterly dividend of $0.2660. The ex-dividend date was Thursday, September 24th. This represents a $1.64 annualized dividend and a yield of 1.2%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Sigma Planning Corp purchased a new stake in shares of First Trust Mid Cap Core AlphaDEX Fund during the third quarter valued at $450,000. Wedbush Securities Inc. acquired a new position in shares of First Trust Mid Cap Core AlphaDEX Fund in the 3rd quarter valued at $309,000. Crescent Grove Advisors LLC purchased a new stake in First Trust Mid Cap Core AlphaDEX Fund during the 3rd quarter valued at about $252,000. Independent Wealth Network Inc. grew its stake in First Trust Mid Cap Core AlphaDEX Fund by 17.4% during the 3rd quarter. Independent Wealth Network Inc. now owns 2,082 shares of the company’s stock valued at $281,000 after purchasing an additional 309 shares during the last quarter. Finally, Perryman Financial Advisory Inc. AD increased its holdings in shares of First Trust Mid Cap Core AlphaDEX Fund by 0.4% in the third quarter. Perryman Financial Advisory Inc. AD now owns 71,413 shares of the company’s stock valued at $9,633,000 after purchasing an additional 313 shares during the period.

First Trust Mid Cap Core AlphaDEX Fund Company Profile

The First Trust Mid Cap Core AlphaDEX Fund (FNX) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Mid Cap Core index. The fund tracks a tiered equal-weighted index of US mid-cap equities selected using both growth and value screens. FNX was launched on May 8, 2007 and is managed by First Trust.