First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) Short Interest Update

The First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) has recently experienced a significant decrease in short interest for the month of February. As reported on February 15th, the total short interest stood at 15,800 shares, which marks a substantial decline of 60.5% from the previous total of 40,000 shares on January 31st. With an average trading volume of 18,400 shares, this translates to a days-to-cover ratio of just 0.9 days.

Institutional Investment Activity

Institutional investors and hedge funds have been actively modifying their investments in the First Trust Mid Cap Value AlphaDEX Fund. For example, Wells Fargo purchased a new stake during the fourth quarter valued at approximately $63,000. Similarly, GAMMA Investing LLC increased its position by 11.5% in the same quarter, now holding 2,025 shares worth $108,000 after acquiring an additional 209 shares. Other notable investments include Great Valley Advisor Group Inc., which took a new position valued around $214,000, and Jane Street Group LLC, acquiring a stake worth $223,000. Moors & Cabot Inc. is another firm that entered a new position valued at approximately $235,000 during the third quarter.

Market Performance of FNK

During trading sessions on Friday, FNK shares rose by $0.09 to reach $52.58. The trading volume for the day was 3,426 shares, compared to the average volume of 24,727 shares. The share price has fluctuated over the past year, hitting a low of $49.96 and a high of $58.52. The 50-day simple moving average stands at $54.10, while the 200-day moving average is $54.37. The fund currently boasts a market capitalization of $220.82 million, a P/E ratio of 10.86, and a beta of 1.29.

Dividend Information

The First Trust Mid Cap Value AlphaDEX Fund recently announced a dividend that was paid out on December 31st. Shareholders who were on the record as of December 13th received a dividend of $0.291 per share. The ex-dividend date was also December 13th.

About the First Trust Mid Cap Value AlphaDEX Fund

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

Investment Considerations

As you consider investing in the First Trust Mid Cap Value AlphaDEX Fund, it's helpful to note that financial analysts are recommending various stocks to their clients. MarketBeat is monitoring top-rated analysts and has identified five stocks that they recommend as better investment opportunities at this time compared to FNK. Investors might want to research these potential options thoroughly before making any decisions.

ETFs, Investing, Finance