First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Sees Strong Trading Volume - What's Next?

Key Points

• Volume spike: Shares traded 77,447 on Friday, a 167% increase from the prior session's 29,010, with the last trade at $100.4020 (previous close $100.65).
• Fund fundamentals show a market cap of $517.6 million, P/E of 24.50 and beta of 1.20, and the price is trading above both the 50-day ($94.84) and 200-day ($94.02) moving averages.
• Several institutional investors have recently initiated small positions, and the ETF tracks a tiered equal-weighted NASDAQ AlphaDEX Mid Cap Growth index drawn from the S&P 400.

Shares of First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY - ) saw strong trading volume on Friday . 77,447 shares changed hands during mid-day trading, an increase of 167% from the previous session's volume of 29,010 shares.The stock last traded at $100.4020 and had previously closed at $100.65.

First Trust Mid Cap Growth AlphaDEX Fund Stock Performance

The stock has a market cap of $517.60 million, a P/E ratio of 24.50 and a beta of 1.20. The stock's fifty day moving average is $94.84 and its 200 day moving average is $94.02.

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

A number of institutional investors and hedge funds have recently modified their holdings of FNY. Ascentis Independent Advisors purchased a new stake in First Trust Mid Cap Growth AlphaDEX Fund during the 1st quarter valued at $28,000. MidFirst Bank purchased a new stake in shares of First Trust Mid Cap Growth AlphaDEX Fund in the fourth quarter valued at $52,000. Founders Financial Alliance LLC bought a new stake in shares of First Trust Mid Cap Growth AlphaDEX Fund in the 3rd quarter worth about $192,000. Advisory Services Network LLC purchased a new position in shares of First Trust Mid Cap Growth AlphaDEX Fund during the 3rd quarter worth about $192,000. Finally, Brookwood Investment Group LLC purchased a new position in shares of First Trust Mid Cap Growth AlphaDEX Fund during the 3rd quarter worth about $226,000.

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.

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