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

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) saw strong trading volume on Wednesday . Approximately 77,665 shares changed hands during trading, an increase of 178% from the previous session’s volume of 27,927 shares.The stock last traded at $110.0410 and had previously closed at $110.85.

First Trust Mid Cap Growth AlphaDEX Fund Trading Down 1.8%

The stock has a 50 day simple moving average of $104.03 and a 200-day simple moving average of $98.04. The firm has a market cap of $588.28 million, a P/E ratio of 24.50 and a beta of 1.18.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cetera Investment Advisers raised its position in First Trust Mid Cap Growth AlphaDEX Fund by 91.0% during the first quarter. Cetera Investment Advisers now owns 177,035 shares of the company’s stock valued at $16,019,000 after purchasing an additional 84,347 shares during the period. LPL Financial LLC lifted its stake in shares of 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 valued at $66,276,000 after purchasing an additional 76,380 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of 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 boosted its holdings in shares of 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 purchased a new position in shares of First Trust Mid Cap Growth AlphaDEX Fund in the 3rd quarter worth approximately $3,337,000.

First Trust Mid Cap Growth AlphaDEX Fund Company Profile

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.