First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Shares Up 1.9% - Here's Why

Key Points

• Shares rose 1.9% to $90.85 (intraday high $92.22) on Monday, while volume was about 7,042 shares—down roughly 73% from the 26,115 average.
• Fund fundamentals: market cap ~ $472.4M with a P/E of 24.5, and the ETF is trading below its 50‑day ($95.59) and 200‑day ($93.19) moving averages.
• Several institutional investors—including MidFirst Bank, Founders Financial Alliance, and Brookwood Investment Group—recently initiated small stakes in the fund.

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY - ) was up 1.9% during trading on Monday . The company traded as high as $92.22 and last traded at $90.85. Approximately 7,042 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 26,115 shares. The stock had previously closed at $89.16.

First Trust Mid Cap Growth AlphaDEX Fund Trading Up 1.9%

The stock has a market cap of $472.42 million, a P/E ratio of 24.50 and a beta of 1.18. The firm has a 50-day simple moving average of $95.59 and a two-hundred day simple moving average of $93.19.

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

Several institutional investors and hedge funds have recently modified their holdings of FNY. MidFirst Bank acquired a new stake in First Trust Mid Cap Growth AlphaDEX Fund in the 4th quarter worth about $52,000. Founders Financial Alliance LLC bought a new position in shares of First Trust Mid Cap Growth AlphaDEX Fund during the third quarter worth approximately $192,000. Advisory Services Network LLC acquired a new stake in shares of First Trust Mid Cap Growth AlphaDEX Fund in the third quarter valued at approximately $192,000. Brookwood Investment Group LLC acquired a new stake in shares of First Trust Mid Cap Growth AlphaDEX Fund in the third quarter valued at approximately $226,000. Finally, Richmond Investment Services LLC bought a new stake in shares of First Trust Mid Cap Growth AlphaDEX Fund in the second quarter valued at approximately $235,000.

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.

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