First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Shares Down 0.1% - Here's Why

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.

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY - Get Free Report) was down 0.1% during mid-day trading on Wednesday . The stock traded as low as $83.09 and last traded at $83.63. Approximately 8,487 shares were traded during 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 company has a 50 day simple moving average of $82.31 and a 200-day simple moving average of $79.16. The stock has a market cap of $396.55 million, a price-to-earnings ratio of 24.50 and a beta of 1.13.

First Trust Mid Cap Growth AlphaDEX Fund Cuts Dividend

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

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. Raymond James Financial Inc. acquired a new stake in First Trust Mid Cap Growth AlphaDEX Fund in the 4th quarter valued at approximately $14,166,000. Envestnet Asset Management Inc. increased its position in First Trust Mid Cap Growth AlphaDEX Fund by 565.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 88,816 shares of the company's stock valued at $6,651,000 after acquiring an additional 75,470 shares during the period. LPL Financial LLC boosted its stake in First Trust Mid Cap Growth AlphaDEX Fund by 8.9% during the 1st 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 in the last quarter. Benjamin Edwards Inc. boosted its stake in First Trust Mid Cap Growth AlphaDEX Fund by 34.5% during the 1st quarter. Benjamin Edwards Inc. now owns 89,784 shares of the company's stock valued at $6,723,000 after purchasing an additional 23,044 shares in the last quarter. Finally, JT Stratford LLC bought a new position in First Trust Mid Cap Growth AlphaDEX Fund during the 4th quarter valued at $1,413,000.

First Trust Mid Cap Growth AlphaDEX Fund Company Profile

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.