First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Reaches New 12-Month High - Should You Buy?

Key Points

• FNY hit a new 52-week high, trading as high as $100.46 and last at $100.63 on light volume (10,981 shares) after a prior close of $97.59.
• The fund has a market cap of $511.23 million, a P/E of 24.50 and a beta of 1.20, with a 50-day moving average of $94.24 and a 200-day moving average of $93.48.
• Institutional interest is rising: LPL, NewEdge and IHT materially increased their stakes while Susquehanna and Synergy established new positions, signaling growing hedge fund demand for FNY.

Shares of First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY - ) reached a new 52-week high on Friday . The company traded as high as $100.46 and last traded at $100.6310, with a volume of 10981 shares traded. The stock had previously closed at $97.59.

First Trust Mid Cap Growth AlphaDEX Fund Price Performance

The firm has a market cap of $511.23 million, a price-to-earnings ratio of 24.50 and a beta of 1.20. The business's 50-day moving average price is $94.24 and its two-hundred day moving average price is $93.48.

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

A number of hedge funds have recently added to or reduced their stakes in FNY. LPL Financial LLC boosted its holdings in First Trust Mid Cap Growth AlphaDEX Fund by 11.7% in the fourth quarter. LPL Financial LLC now owns 726,753 shares of the company's stock worth $66,276,000 after purchasing an additional 76,380 shares during the period. NewEdge Advisors LLC boosted its holdings in First Trust Mid Cap Growth AlphaDEX Fund by 31.8% in the third quarter. NewEdge Advisors LLC now owns 259,716 shares of the company's stock worth $23,794,000 after purchasing an additional 62,725 shares during the period. IHT Wealth Management LLC boosted its holdings in First Trust Mid Cap Growth AlphaDEX Fund by 1,876.0% in the fourth quarter. IHT Wealth Management LLC now owns 55,783 shares of the company's stock worth $5,087,000 after purchasing an additional 52,960 shares during the period. Susquehanna International Group LLP acquired a new position in First Trust Mid Cap Growth AlphaDEX Fund in the third quarter worth $3,337,000. Finally, Synergy Asset Management LLC acquired a new position in First Trust Mid Cap Growth AlphaDEX Fund in the third quarter worth $3,300,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.