First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Trading Down 1.5% – Time to Sell?

Shares of First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) traded down 1.5% during trading on Wednesday . The stock traded as low as $62.52 and last traded at $62.56. Approximately 40,727 shares traded hands during trading, an increase of 513% from the average daily volume of 6,644 shares. The stock had previously closed at $63.54.

First Trust Mid Cap Value AlphaDEX Fund Stock Performance

The stock has a market capitalization of $188.31 million, a P/E ratio of 10.44 and a beta of 0.96. The company’s fifty day simple moving average is $63.69 and its two-hundred day simple moving average is $60.69.

First Trust Mid Cap Value AlphaDEX Fund Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were given a $0.1676 dividend. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $0.67 annualized dividend and a dividend yield of 1.1%.

Institutional Trading of First Trust Mid Cap Value AlphaDEX Fund

Hedge funds have recently added to or reduced their stakes in the company. Cetera Investment Advisers boosted its stake in First Trust Mid Cap Value AlphaDEX Fund by 17.3% in the 1st quarter. Cetera Investment Advisers now owns 105,572 shares of the company’s stock valued at $6,026,000 after purchasing an additional 15,551 shares during the period. Kingsview Wealth Management LLC increased its position in First Trust Mid Cap Value AlphaDEX Fund by 100.0% during the 4th quarter. Kingsview Wealth Management LLC now owns 65,940 shares of the company’s stock worth $3,669,000 after buying an additional 32,970 shares during the period. Kestra Advisory Services LLC lifted its holdings in shares of First Trust Mid Cap Value AlphaDEX Fund by 23.5% during the first quarter. Kestra Advisory Services LLC now owns 10,335 shares of the company’s stock worth $590,000 after buying an additional 1,966 shares in the last quarter. RFG Advisory LLC acquired a new stake in shares of First Trust Mid Cap Value AlphaDEX Fund during the second quarter worth $202,000. Finally, Rockefeller Capital Management L.P. boosted its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 69.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,876 shares of the company’s stock valued at $160,000 after acquiring an additional 1,183 shares during the period.

First Trust Mid Cap Value AlphaDEX Fund Company Profile

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.