First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Shares Up 1.9% – Still a Buy?

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY)’s stock price rose 1.9% on Monday . The company traded as high as $92.22 and last traded at $90.85. Approximately 7,042 shares changed hands during 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 1.0%

The stock’s 50-day moving average price is $95.38 and its 200-day moving average price is $93.20. The stock has a market cap of $479.02 million, a price-to-earnings ratio of 24.50 and a beta of 1.18.

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

Several hedge funds and other institutional investors have recently bought and sold shares of FNY. Ashton Thomas Private Wealth LLC boosted its holdings in First Trust Mid Cap Growth AlphaDEX Fund by 4.2% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 2,729 shares of the company’s stock worth $249,000 after acquiring an additional 109 shares in the last quarter. Cornerstone Wealth Management LLC increased its holdings in shares of First Trust Mid Cap Growth AlphaDEX Fund by 2.2% during the third quarter. Cornerstone Wealth Management LLC now owns 5,808 shares of the company’s stock valued at $532,000 after acquiring an additional 127 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of First Trust Mid Cap Growth AlphaDEX Fund by 0.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,311 shares of the company’s stock worth $2,522,000 after purchasing an additional 178 shares during the period. Truist Financial Corp raised its position in shares of First Trust Mid Cap Growth AlphaDEX Fund by 7.5% during the third quarter. Truist Financial Corp now owns 3,022 shares of the company’s stock worth $277,000 after purchasing an additional 211 shares during the period. Finally, Stonebridge Financial Planning Group LLC lifted its holdings in shares of First Trust Mid Cap Growth AlphaDEX Fund by 2.9% in the 4th quarter. Stonebridge Financial Planning Group LLC now owns 7,566 shares of the company’s stock worth $690,000 after purchasing an additional 214 shares in 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.