First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Shares Down 0.8% - What's Next?

Key Points

• The First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) shares fell by 0.8% to a price of $92.72 during mid-day trading on Thursday, with a significant trading volume increase of 31% from its average.
• The fund has a market capitalization of $611.95 million and a P/E ratio of 24.50, indicating its valuation relative to earnings.
• Several institutional investors, including Envestnet Asset Management and LPL Financial, have significantly increased their positions in the fund during the first quarter.

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY - )'s share price dropped 0.8% during mid-day trading on Thursday . The stock traded as low as $92.48 and last traded at $92.72. Approximately 26,333 shares were traded during trading, an increase of 31% from the average daily volume of 20,125 shares. The stock had previously closed at $93.44.

First Trust Mid Cap Growth AlphaDEX Fund Stock Performance

The company has a market capitalization of $611.95 million, a P/E ratio of 24.50 and a beta of 1.13. The firm's fifty day moving average is $88.42 and its 200-day moving average is $81.73.

Institutional Investors Weigh In On First Trust Mid Cap Growth AlphaDEX Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its position in First Trust Mid Cap Growth AlphaDEX Fund by 565.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 88,816 shares of the company's stock worth $6,651,000 after buying an additional 75,470 shares during the period. LPL Financial LLC boosted its position 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 worth $46,442,000 after buying an additional 50,774 shares during the period. Benjamin Edwards Inc. boosted its position 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 worth $6,723,000 after buying an additional 23,044 shares during the period. Global Retirement Partners LLC acquired a new stake in First Trust Mid Cap Growth AlphaDEX Fund during the 2nd quarter worth approximately $1,779,000. Finally, Transamerica Financial Advisors LLC boosted its position in First Trust Mid Cap Growth AlphaDEX Fund by 46,363.6% during the 1st quarter. Transamerica Financial Advisors LLC now owns 15,333 shares of the company's stock worth $1,149,000 after buying an additional 15,300 shares during the period.

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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