FNY:NASDAQFirst Trust Mid Cap Growth AlphaDEX Fund Analysis

First Trust Mid Cap Growth AlphaDEX (FNY) is trading at $91.92, just above its 20‑day SMA of $91.11 and comfortably above the 200‑day SMA of $90.53, indicating short‑term price stability. The MACD histogram is positive (+0.20) with a bullish signal, while the RSI sits at 49.5, suggesting the fund is neither overbought nor oversold. Support sits at $86.60 and resistance at $95.01, framing a modest upside range. Volume is on an increasing trend despite current daily volume (18,816) being below the 10‑day average (36,400), and 30‑day volatility is elevated at 25.7%, reflecting a higher‑than‑average price swing. The fund’s beta of 1.08 (3‑year beta 1.39) points to slightly higher market sensitivity, yet tracking error is zero and the expense ratio is 0.73%, keeping costs in line with peers. YTD return stands at 6.66% with a 3‑year annualized return of 15.9%, and the Fear & Greed Index reads 78.8 (“Extreme Greed”), indicating strong investor appetite.
Given the neutral trend direction, solid growth performance, and low tracking risk, the primary concerns are the elevated volatility and modest liquidity as evidenced by lower-than‑average trading volume. Sector concentration risk is likely medium for a mid‑cap growth AlphaDEX strategy, while currency risk is low as the fund is USD‑denominated. Overall, the fund presents a balanced risk‑reward profile suitable for investors comfortable with growth‑oriented exposure and willing to tolerate short‑term price swings.