First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• FNX experienced an unusually high intraday volume of 66,686 shares—up 117% from the prior session—with the stock last trading at $128.98.
• The fund has a market capitalization of $1.21 billion, a P/E of 14.19 and a beta of 1.12, with 50‑day and 200‑day moving averages of $133.40 and $128.48, respectively.
• Several hedge funds adjusted holdings recently, including Russell Investments materially increasing its stake to 466 shares and multiple firms (Mather Group, MidFirst Bank, Advisory Services Network, Arax Advisory) initiating small positions.

First Trust Mid Cap Core AlphaDEX Fund (NASDAQ:FNX - ) saw an uptick in trading volume on Wednesday . 66,686 shares were traded during mid-day trading, an increase of 117% from the previous session's volume of 30,675 shares.The stock last traded at $128.98 and had previously closed at $128.39.

First Trust Mid Cap Core AlphaDEX Fund Price Performance

The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 14.19 and a beta of 1.12. The business has a fifty day moving average of $133.40 and a 200 day moving average of $128.48.

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

Hedge funds have recently modified their holdings of the business. Mather Group LLC. purchased a new position in First Trust Mid Cap Core AlphaDEX Fund during the third quarter worth about $25,000. Russell Investments Group Ltd. raised its position in First Trust Mid Cap Core AlphaDEX Fund by 5,077.8% in the third quarter. Russell Investments Group Ltd. now owns 466 shares of the company's stock valued at $58,000 after purchasing an additional 457 shares during the period. MidFirst Bank acquired a new position in First Trust Mid Cap Core AlphaDEX Fund during the fourth quarter worth $92,000. Advisory Services Network LLC acquired a new position in First Trust Mid Cap Core AlphaDEX Fund during the third quarter worth $136,000. Finally, Arax Advisory Partners purchased a new position in shares of First Trust Mid Cap Core AlphaDEX Fund during the fourth quarter worth $139,000.

About First Trust Mid Cap Core AlphaDEX Fund

The First Trust Mid Cap Core AlphaDEX Fund (FNX) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Mid Cap Core index. The fund tracks a tiered equal-weighted index of US mid-cap equities selected using both growth and value screens. FNX was launched on May 8, 2007 and is managed by First Trust.

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