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

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

First Trust Mid Cap Growth AlphaDEX Fund Price Performance

The firm has a market cap of $511.23 million, a price-to-earnings ratio of 24.50 and a beta of 1.20. The business’s 50-day moving average price is $94.24 and its two-hundred day moving average price is $93.48.

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

A number of hedge funds have recently added to or reduced their stakes in FNY. LPL Financial LLC boosted its holdings in First Trust Mid Cap Growth AlphaDEX Fund by 11.7% in the fourth 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 boosted its holdings in First Trust Mid Cap Growth AlphaDEX Fund by 31.8% in the third 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 First Trust Mid Cap Growth AlphaDEX Fund by 1,876.0% in the fourth 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. Susquehanna International Group LLP acquired a new position in First Trust Mid Cap Growth AlphaDEX Fund in the third quarter worth $3,337,000. Finally, Synergy Asset Management LLC acquired a new position in First Trust Mid Cap Growth AlphaDEX Fund in the third quarter worth $3,300,000.

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.