First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Stock Price Up 2.4% – Should You Buy?

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY)’s stock price traded up 2.4% during mid-day trading on Monday . The stock traded as high as $89.33 and last traded at $89.14. 14,032 shares traded hands during trading, a decline of 29% from the average session volume of 19,886 shares. The stock had previously closed at $87.03.

First Trust Mid Cap Growth AlphaDEX Fund Stock Up 2.4%

The business has a 50-day moving average of $91.38 and a 200-day moving average of $86.04. The stock has a market cap of $441.24 million, a price-to-earnings ratio of 24.50 and a beta of 1.18.

Institutional Trading of First Trust Mid Cap Growth AlphaDEX Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its holdings in shares of First Trust Mid Cap Growth AlphaDEX Fund by 31.8% during the 3rd quarter. NewEdge Advisors LLC now owns 259,716 shares of the company’s stock valued at $23,794,000 after acquiring an additional 62,725 shares during the last quarter. LPL Financial LLC grew its holdings in First Trust Mid Cap Growth AlphaDEX Fund by 8.9% during the first quarter. LPL Financial LLC now owns 620,220 shares of the company’s stock valued at $46,442,000 after purchasing an additional 50,774 shares during the last quarter. Susquehanna International Group LLP acquired a new position in First Trust Mid Cap Growth AlphaDEX Fund during the third quarter valued at approximately $3,337,000. Synergy Asset Management LLC bought a new position in shares of First Trust Mid Cap Growth AlphaDEX Fund in the third quarter valued at approximately $3,300,000. Finally, Envestnet Asset Management Inc. lifted its stake in shares of First Trust Mid Cap Growth AlphaDEX Fund by 32.2% in the second quarter. Envestnet Asset Management Inc. now owns 117,384 shares of the company’s stock worth $9,677,000 after buying an additional 28,568 shares during the last quarter.

About First Trust Mid Cap Growth AlphaDEX Fund

The First Trust Mid Cap Growth AlphaDEX Fund (FNY) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Mid Cap Growth index. The fund tracks a tiered equal-weighted index of mid-cap growth stocks selected by AlphaDex selection methodology from the S&P 400 Index. FNY was launched on Apr 18, 2011 and is managed by First Trust.