Significant Rise in Short Interest for First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK)

The First Trust Mid Cap Value AlphaDEX Fund (NASDAQ:FNK) experienced a notable surge in short interest throughout January. By January 31st, the total short interest reached 40,000 shares, reflecting a 72.4% increase from the previous total of 23,200 shares recorded on January 15th. With an average trading volume of 18,800 shares, the current days-to-cover ratio stands at 2.1 days.

Institutional Investment Changes in FNK

Several institutional investors and hedge funds have recently adjusted their positions in the First Trust Mid Cap Value AlphaDEX Fund. In the third quarter, Raymond James & Associates increased its stake by 1.3%, now holding 55,317 shares worth approximately $3,014,000 after adding 693 shares. Gladstone Institutional Advisory LLC raised its position by 12.5%, acquiring an additional 7,389 shares to hold a total of 66,377 shares valued at $3,617,000. Janney Montgomery Scott LLC also grew its investment by 0.6%, owning 37,585 shares worth $2,048,000 after acquiring 207 additional shares. Moreover, Moors & Cabot Inc. and Great Valley Advisor Group Inc. entered the fund by purchasing stakes valued at $235,000 and $214,000, respectively.

Current Price Performance of FNK

On a recent trading day, shares of NASDAQ:FNK increased by $0.06, reaching $54.29. Daily trading volume was noted at 8,383 shares, compared to an average of 27,466 shares. The fund boasts a market capitalization of $228.02 million, a price-to-earnings ratio of 10.86, and a beta of 1.29. Over the past year, FNK has fluctuated, hitting a low of $49.77 and a high of $58.52. Its 50-day and 200-day simple moving averages are $54.37 and $54.32, respectively.

Dividend Announcement from FNK

The First Trust Mid Cap Value AlphaDEX Fund recently declared a dividend, which was distributed on December 31st. Shareholders on record as of December 13th received a dividend of $0.291. The ex-dividend date was also set for December 13th.

Overview of First Trust Mid Cap Value AlphaDEX Fund

The First Trust Mid Cap Value AlphaDEX Fund (FNK) is an exchange-traded fund designed to track the NASDAQ AlphaDEX Mid Cap Value Index. This fund selects mid-cap value stocks by utilizing quantitative methodologies and applies an equal-tiered weighting strategy. It was launched on April 18, 2011, and is managed by First Trust.

Other Investment Insights

For those considering investments, it may be valuable to look beyond the First Trust Mid Cap Value AlphaDEX Fund, as analysts recommend exploring additional stocks viewed as promising in the current market environment.

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