First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Stock Falls 0.9% – Should You Sell?

Shares of First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) dropped 0.9% during mid-day trading on Monday. The company traded as low as $99.12 and last traded at $99.22. 3,358 shares changed hands during trading, a decline of 86% from the average session volume of 24,159 shares. The stock had previously closed at $100.08.

First Trust Mid Cap Growth AlphaDEX Fund Stock Down 0.9%

The stock’s 50-day moving average price is $102.38 and its 200 day moving average price is $102.08. The firm has a market cap of $565.55 million, a price-to-earnings ratio of 24.50 and a beta of 1.20.

Institutional Trading of First Trust Mid Cap Growth AlphaDEX Fund

Several institutional investors have recently bought and sold shares of FNY. NewEdge Advisors LLC boosted its position in First Trust Mid Cap Growth AlphaDEX Fund by 3.3% in the first quarter. NewEdge Advisors LLC now owns 288,746 shares of the company’s stock valued at $26,128,000 after buying an additional 9,102 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of First Trust Mid Cap Growth AlphaDEX Fund by 91.0% in the first quarter. Cetera Investment Advisers now owns 177,035 shares of the company’s stock valued at $16,019,000 after buying an additional 84,347 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in First Trust Mid Cap Growth AlphaDEX Fund by 4.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 113,923 shares of the company’s stock worth $12,629,000 after buying an additional 5,117 shares in the last quarter. Royal Bank of Canada lifted its position in shares of First Trust Mid Cap Growth AlphaDEX Fund by 0.8% during the first quarter. Royal Bank of Canada now owns 50,784 shares of the company’s stock worth $4,596,000 after purchasing an additional 413 shares in the last quarter. Finally, Wealth Management Partners LLC increased its holdings in shares of First Trust Mid Cap Growth AlphaDEX Fund by 1.2% in the first quarter. Wealth Management Partners LLC now owns 36,401 shares of the company’s stock valued at $3,294,000 after purchasing an additional 435 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.