First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Stock Price Down 0.1% - Time to Sell?

Key Points

• First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) shares fell by 0.1%, trading at $83.63 with a significantly reduced trading volume of 8,487 shares, down 61% from its average.
• The fund announced a quarterly dividend of $0.0297 per share, resulting in a 0.1% yield after a cut, indicating potential concerns about its financial stability.
• Recent activity from institutional investors included several acquisitions, highlighting ongoing interest in the fund despite the share price decline.

Shares of First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY - Get Free Report) were down 0.1% during trading on Wednesday . The company traded as low as $83.09 and last traded at $83.63. Approximately 8,487 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 21,976 shares. The stock had previously closed at $83.72.

First Trust Mid Cap Growth AlphaDEX Fund Stock Up 0.0%

The firm has a market cap of $396.55 million, a price-to-earnings ratio of 24.50 and a beta of 1.13. The stock has a 50 day moving average of $82.31 and a 200 day moving average of $79.12.

First Trust Mid Cap Growth AlphaDEX Fund Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, June 26th were paid a $0.0297 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Thursday, June 26th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FNY. GAMMA Investing LLC bought a new position in shares of First Trust Mid Cap Growth AlphaDEX Fund in the second quarter worth about $37,000. GPS Wealth Strategies Group LLC bought a new position in shares of First Trust Mid Cap Growth AlphaDEX Fund in the first quarter worth about $49,000. NBC Securities Inc. bought a new position in shares of First Trust Mid Cap Growth AlphaDEX Fund in the first quarter worth about $50,000. Mpwm Advisory Solutions LLC bought a new position in shares of First Trust Mid Cap Growth AlphaDEX Fund in the fourth quarter worth about $64,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of First Trust Mid Cap Growth AlphaDEX Fund by 9.1% in the first quarter. Geneos Wealth Management Inc. now owns 2,251 shares of the company's stock worth $169,000 after acquiring an additional 188 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.