First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Sees Unusually-High Trading Volume – Still a Buy?

Shares of First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) saw strong trading volume on Tuesday . Approximately 27,323 shares changed hands during mid-day trading, a decline of 4% from the previous session’s volume of 28,394 shares.The stock last traded at $105.3250 and had previously closed at $107.71.

First Trust Mid Cap Growth AlphaDEX Fund Stock Down 1.4%

The stock has a market cap of $589.38 million, a P/E ratio of 24.50 and a beta of 1.18. The business has a 50-day simple moving average of $104.32 and a 200-day simple moving average of $98.25.

Institutional Trading of First Trust Mid Cap Growth AlphaDEX Fund

Institutional investors and hedge funds have recently modified their holdings of the company. LPL Financial LLC boosted its holdings in shares of First Trust Mid Cap Growth AlphaDEX Fund by 11.7% during the 4th quarter. LPL Financial LLC now owns 726,753 shares of the company’s stock worth $66,276,000 after buying an additional 76,380 shares during the period. Wells Fargo & Company MN raised its holdings in First Trust Mid Cap Growth AlphaDEX Fund by 3.9% in the 4th quarter. Wells Fargo & Company MN now owns 584,020 shares of the company’s stock worth $53,259,000 after acquiring an additional 22,042 shares during the period. NewEdge Advisors LLC lifted its position in First Trust Mid Cap Growth AlphaDEX Fund by 3.3% during the 1st quarter. NewEdge Advisors LLC now owns 288,746 shares of the company’s stock worth $26,128,000 after acquiring an additional 9,102 shares during the last quarter. Cetera Investment Advisers lifted its position in First Trust Mid Cap Growth AlphaDEX Fund by 91.0% during the 1st quarter. Cetera Investment Advisers now owns 177,035 shares of the company’s stock worth $16,019,000 after acquiring an additional 84,347 shares during the last quarter. Finally, &PARTNERS boosted its holdings in First Trust Mid Cap Growth AlphaDEX Fund by 1.8% during the fourth quarter. &PARTNERS now owns 155,868 shares of the company’s stock valued at $14,215,000 after acquiring an additional 2,805 shares during the period.

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.