First Trust Small Cap Growth AlphaDEX Fund (NASDAQ:FYC) Hits New 52-Week High - Should You Buy?

Key Points

• The First Trust Small Cap Growth AlphaDEX Fund (NASDAQ:FYC) reached a new 52-week high of $89.11, indicating significant upward momentum in its stock price.
• Institutional investors have shown strong interest, with Bank of America Corp DE increasing its stake by 92.8% and Jones Financial Companies Lllp by an extraordinary 1,369.4% in recent months.
• The fund, launched in 2011, aims to outperform the market by tracking a quant-driven index of small-cap growth stocks.

First Trust Small Cap Growth AlphaDEX Fund (NASDAQ:FYC - ) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $89.11 and last traded at $89.03, with a volume of 3543 shares. The stock had previously closed at $88.39.

First Trust Small Cap Growth AlphaDEX Fund Price Performance

The company has a market cap of $506.90 million, a P/E ratio of 20.27 and a beta of 1.19. The stock's 50-day moving average is $83.11 and its two-hundred day moving average is $75.71.

Institutional Trading of First Trust Small Cap Growth AlphaDEX Fund

A number of hedge funds and other institutional investors have recently modified their holdings of FYC. Bank of America Corp DE increased its stake in shares of First Trust Small Cap Growth AlphaDEX Fund by 92.8% in the second quarter. Bank of America Corp DE now owns 246,143 shares of the company's stock worth $19,588,000 after purchasing an additional 118,450 shares in the last quarter. Richmond Investment Services LLC grew its stake in First Trust Small Cap Growth AlphaDEX Fund by 103.8% during the second quarter. Richmond Investment Services LLC now owns 136,207 shares of the company's stock valued at $10,840,000 after acquiring an additional 69,359 shares in the last quarter. Jones Financial Companies Lllp grew its stake in First Trust Small Cap Growth AlphaDEX Fund by 1,369.4% during the first quarter. Jones Financial Companies Lllp now owns 50,739 shares of the company's stock valued at $3,491,000 after acquiring an additional 47,286 shares in the last quarter. Cetera Investment Advisers grew its stake in First Trust Small Cap Growth AlphaDEX Fund by 41.2% during the first quarter. Cetera Investment Advisers now owns 154,934 shares of the company's stock valued at $10,659,000 after acquiring an additional 45,204 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new position in First Trust Small Cap Growth AlphaDEX Fund during the fourth quarter valued at $2,135,000.

First Trust Small Cap Growth AlphaDEX Fund Company Profile

The First Trust Small Cap Growth AlphaDEX Fund (FYC) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Small Cap Growth index. The fund tracks a quant-driven index that select stocks from a small-cap growth universe in an attempt to outperform the market. FYC was launched on Apr 18, 2011 and is managed by First Trust.

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