First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Trading 2.7% Higher – Still a Buy?

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) shares traded up 2.7% on Tuesday . The stock traded as high as $105.09 and last traded at $105.09. 20,571 shares were traded during trading, a decline of 26% from the average session volume of 27,973 shares. The stock had previously closed at $102.37.

First Trust Mid Cap Growth AlphaDEX Fund Price Performance

The company has a market cap of $541.21 million, a P/E ratio of 24.50 and a beta of 1.20. The company’s 50-day moving average is $97.15 and its two-hundred day moving average is $95.09.

Institutional Investors Weigh In On First Trust Mid Cap Growth AlphaDEX Fund

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers grew its position in First Trust Mid Cap Growth AlphaDEX Fund by 91.0% in the 1st quarter. Cetera Investment Advisers now owns 177,035 shares of the company’s stock worth $16,019,000 after purchasing an additional 84,347 shares during the period. LPL Financial LLC grew its position in First Trust Mid Cap Growth AlphaDEX Fund by 11.7% in the 4th quarter. LPL Financial LLC now owns 726,753 shares of the company’s stock worth $66,276,000 after purchasing an additional 76,380 shares during the period. NewEdge Advisors LLC grew its position in First Trust Mid Cap Growth AlphaDEX Fund by 31.8% in the 3rd quarter. NewEdge Advisors LLC now owns 259,716 shares of the company’s stock worth $23,794,000 after purchasing an additional 62,725 shares during the period. IHT Wealth Management LLC grew its position in First Trust Mid Cap Growth AlphaDEX Fund by 1,876.0% in the 4th quarter. IHT Wealth Management LLC now owns 55,783 shares of the company’s stock worth $5,087,000 after purchasing an additional 52,960 shares during the period. Finally, Susquehanna International Group LLP bought a new stake in First Trust Mid Cap Growth AlphaDEX Fund in the 3rd quarter worth approximately $3,337,000.

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.