First Trust Small Cap Value AlphaDEX Fund (NASDAQ:FYT) Shares Up 3% - Time to Buy?

Shares of First Trust Small Cap Value AlphaDEX Fund (NASDAQ:FYT - Get Free Report) shot up 3% during trading on Tuesday . The stock traded as high as $49.39 and last traded at $49.38. 7,844 shares were traded during mid-day trading, a decline of 49% from the average session volume of 15,277 shares. The stock had previously closed at $47.94.

First Trust Small Cap Value AlphaDEX Fund Trading Down 0.3%

The stock has a market capitalization of $122.03 million, a price-to-earnings ratio of 11.16 and a beta of 1.37. The firm's fifty day moving average price is $47.40 and its 200 day moving average price is $52.37.

Institutional Investors Weigh In On First Trust Small Cap Value AlphaDEX Fund

A number of hedge funds have recently added to or reduced their stakes in the business. Signature Estate & Investment Advisors LLC acquired a new stake in First Trust Small Cap Value AlphaDEX Fund during the 1st quarter worth approximately $264,000. Jones Financial Companies Lllp lifted its holdings in First Trust Small Cap Value AlphaDEX Fund by 442.5% during the 1st quarter. Jones Financial Companies Lllp now owns 14,724 shares of the company's stock worth $673,000 after buying an additional 12,010 shares in the last quarter. Capital Analysts LLC lifted its holdings in First Trust Small Cap Value AlphaDEX Fund by 39.5% during the 1st quarter. Capital Analysts LLC now owns 1,968 shares of the company's stock worth $98,000 after buying an additional 557 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in First Trust Small Cap Value AlphaDEX Fund by 76.1% during the 1st quarter. Raymond James Financial Inc. now owns 97,797 shares of the company's stock worth $4,863,000 after buying an additional 42,276 shares in the last quarter. Finally, Benjamin Edwards Inc. acquired a new stake in First Trust Small Cap Value AlphaDEX Fund during the 1st quarter worth approximately $695,000.

First Trust Small Cap Value AlphaDEX Fund Company Profile

The First Trust Small Cap Value AlphaDEX Fund (FYT) is an exchange-traded fund that is based on the NASDAQ AlphaDEX Small Cap Value index. The fund tracks an index of securities pulled from the NASDAQ US 700 Small Cap Index that are rescreened and weighted based on a tiered process. FYT was launched on Apr 18, 2011 and is managed by First Trust.