First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Trading 0.3% Higher – Still a Buy?

Shares of First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) rose 0.3% during mid-day trading on Tuesday . The stock traded as high as $61.06 and last traded at $60.91. Approximately 4,514 shares changed hands during trading, a decline of 42% from the average daily volume of 7,730 shares. The stock had previously closed at $60.70.

First Trust Mid Cap Value AlphaDEX Fund Price Performance

The firm has a market cap of $219.28 million, a price-to-earnings ratio of 10.44 and a beta of 1.08. The stock has a 50-day moving average price of $57.53 and a 200 day moving average price of $55.56.

First Trust Mid Cap Value AlphaDEX Fund Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th were given a dividend of $0.2872 per share. This represents a $1.15 annualized dividend and a yield of 1.9%. This is a positive change from First Trust Mid Cap Value AlphaDEX Fund’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, December 12th.

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

Hedge funds have recently modified their holdings of the business. Total Investment Management Inc. increased its holdings in shares of First Trust Mid Cap Value AlphaDEX Fund by 1.5% in the 4th quarter. Total Investment Management Inc. now owns 1,329,591 shares of the company’s stock valued at $73,990,000 after acquiring an additional 19,423 shares during the period. Kingsview Wealth Management LLC grew 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 purchasing an additional 32,970 shares during the last quarter. Cetera Investment Advisers increased its stake in First Trust Mid Cap Value AlphaDEX Fund by 144.9% in the second quarter. Cetera Investment Advisers now owns 62,711 shares of the company’s stock valued at $3,246,000 after purchasing an additional 37,100 shares during the period. Raymond James Financial Inc. raised its holdings in shares of First Trust Mid Cap Value AlphaDEX Fund by 14.1% in the third quarter. Raymond James Financial Inc. now owns 57,914 shares of the company’s stock valued at $3,200,000 after buying an additional 7,175 shares during the last quarter. Finally, Osaic Holdings Inc. raised its holdings in shares of First Trust Mid Cap Value AlphaDEX Fund by 18.8% in the second quarter. Osaic Holdings Inc. now owns 48,927 shares of the company’s stock valued at $2,532,000 after buying an additional 7,737 shares during the last quarter.

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.