First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Reaches New 12-Month High – Should You Buy?

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $100.46 and last traded at $100.6310, with a volume of 10981 shares trading hands. The stock had previously closed at $97.59.

First Trust Mid Cap Growth AlphaDEX Fund Price Performance

The company has a market cap of $511.23 million, a price-to-earnings ratio of 24.50 and a beta of 1.20. The firm’s fifty day moving average price is $94.24 and its 200-day moving average price is $93.48.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC increased its position 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 purchasing an additional 109 shares during the period. Cornerstone Wealth Management LLC increased its position in First Trust Mid Cap Growth AlphaDEX Fund by 2.2% in the third quarter. Cornerstone Wealth Management LLC now owns 5,808 shares of the company’s stock worth $532,000 after purchasing an additional 127 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in First Trust Mid Cap Growth AlphaDEX Fund by 0.7% in 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 increased its position in First Trust Mid Cap Growth AlphaDEX Fund by 7.5% in 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 boosted its holdings in First Trust Mid Cap Growth AlphaDEX Fund by 2.9% during the fourth quarter. Stonebridge Financial Planning Group LLC now owns 7,566 shares of the company’s stock worth $690,000 after buying an additional 214 shares during the last quarter.

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.