First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Trading Up 1.1% - Here's What Happened

Shares of First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY - Get Free Report) shot up 1.1% during mid-day trading on Tuesday . The company traded as high as $81.94 and last traded at $81.78. 6,947 shares changed hands during trading, a decline of 62% from the average session volume of 18,436 shares. The stock had previously closed at $80.86.

First Trust Mid Cap Growth AlphaDEX Fund Trading Up 0.6%

The company has a 50 day moving average price of $78.05 and a 200 day moving average price of $78.87. The firm has a market cap of $387.23 million, a PE ratio of 23.90 and a beta of 1.13.

First Trust Mid Cap Growth AlphaDEX Fund Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, June 26th will be given a dividend of $0.0297 per share. The ex-dividend date of this dividend is Thursday, June 26th. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FNY. Raymond James Financial Inc. acquired a new stake in First Trust Mid Cap Growth AlphaDEX Fund in the 4th quarter valued at about $14,166,000. World Investment Advisors acquired a new stake in shares of First Trust Mid Cap Growth AlphaDEX Fund in the fourth quarter valued at approximately $626,000. KCM Investment Advisors LLC grew its position in shares of First Trust Mid Cap Growth AlphaDEX Fund by 1.8% in the fourth quarter. KCM Investment Advisors LLC now owns 38,381 shares of the company's stock valued at $3,070,000 after purchasing an additional 688 shares during the last quarter. LPL Financial LLC increased its stake in shares of First Trust Mid Cap Growth AlphaDEX Fund by 11.9% during the 4th quarter. LPL Financial LLC now owns 569,446 shares of the company's stock worth $45,556,000 after purchasing an additional 60,713 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its position in shares of First Trust Mid Cap Growth AlphaDEX Fund by 39.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 26,418 shares of the company's stock worth $2,113,000 after purchasing an additional 7,441 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.