First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Short Interest Down 60.5% in February

First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) was the target of a significant drop in short interest in February. As of February 15th, there was short interest totalling 15,800 shares, a drop of 60.5% from the January 31st total of 40,000 shares. Based on an average daily volume of 18,400 shares, the short-interest ratio is presently 0.9 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FNK. Raymond James & Associates grew its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 1.3% in the 3rd quarter. Raymond James & Associates now owns 55,317 shares of the company’s stock valued at $3,014,000 after acquiring an additional 693 shares during the period. Gladstone Institutional Advisory LLC grew its position in shares of First Trust Mid Cap Value AlphaDEX Fund by 12.5% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 66,377 shares of the company’s stock valued at $3,617,000 after acquiring an additional 7,389 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of First Trust Mid Cap Value AlphaDEX Fund by 0.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 37,585 shares of the company’s stock worth $2,048,000 after buying an additional 207 shares during the period. Moors & Cabot Inc. bought a new stake in shares of First Trust Mid Cap Value AlphaDEX Fund during the 3rd quarter worth about $235,000. Finally, Great Valley Advisor Group Inc. acquired a new stake in First Trust Mid Cap Value AlphaDEX Fund in the 3rd quarter worth about $214,000.

First Trust Mid Cap Value AlphaDEX Fund Stock Performance

First Trust Mid Cap Value AlphaDEX Fund stock traded up $0.11 during mid-day trading on Friday, reaching $52.60. The company’s stock had a trading volume of 7,283 shares, compared to its average volume of 24,828. The company has a market capitalization of $220.92 million, a price-to-earnings ratio of 10.86 and a beta of 1.29. First Trust Mid Cap Value AlphaDEX Fund has a 12 month low of $49.96 and a 12 month high of $58.52. The business’s 50 day simple moving average is $54.09 and its 200 day simple moving average is $54.38.

First Trust Mid Cap Value AlphaDEX Fund Announces Dividend

The firm also recently announced a dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a $0.291 dividend. The ex-dividend date of this dividend was Friday, December 13th.

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.