First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNY) Trading Down 1.1% – Here’s Why

First Trust Mid Cap Growth AlphaDEX Fund (NASDAQ:FNYGet Free Report) shares traded down 1.1% on Tuesday . The company traded as low as $82.25 and last traded at $82.30. 6,421 shares were traded during trading, a decline of 66% from the average session volume of 18,947 shares. The stock had previously closed at $83.24.

First Trust Mid Cap Growth AlphaDEX Fund Stock Down 1.1%

The stock has a market capitalization of $386.81 million, a price-to-earnings ratio of 24.50 and a beta of 1.13. The business’s 50-day moving average is $80.45 and its two-hundred day moving average is $78.85.

First Trust Mid Cap Growth AlphaDEX Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, June 26th were given a dividend of $0.0297 per share. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%.

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

A number of institutional investors and hedge funds have recently bought and sold shares of FNY. Raymond James Financial Inc. acquired a new position in First Trust Mid Cap Growth AlphaDEX Fund during the fourth quarter worth about $14,166,000. Envestnet Asset Management Inc. boosted its position in First Trust Mid Cap Growth AlphaDEX Fund by 565.5% during the first quarter. Envestnet Asset Management Inc. now owns 88,816 shares of the company’s stock worth $6,651,000 after acquiring an additional 75,470 shares during the last quarter. LPL Financial LLC boosted its position in First Trust Mid Cap Growth AlphaDEX Fund by 11.9% during the fourth quarter. LPL Financial LLC now owns 569,446 shares of the company’s stock worth $45,556,000 after acquiring an additional 60,713 shares during the last quarter. Benjamin Edwards Inc. raised its stake in First Trust Mid Cap Growth AlphaDEX Fund by 34.5% during the first quarter. Benjamin Edwards Inc. now owns 89,784 shares of the company’s stock worth $6,723,000 after purchasing an additional 23,044 shares during the period. Finally, JT Stratford LLC purchased a new position in First Trust Mid Cap Growth AlphaDEX Fund during the fourth quarter worth about $1,413,000.

About First Trust Mid Cap Growth AlphaDEX Fund

(Get Free Report)

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.

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