ETFs Under Scrutiny: Major Outflow Detected in First Trust Mid Cap Growth Fund
Today, we examine the latest shifts in shares outstanding within various ETFs. One notable case is the First Trust Mid Cap Growth AlphaDEX Fund (Symbol: FNY), which has experienced a substantial outflow of approximately $119.0 million. This accounts for a significant 24.6% decrease in shares outstanding, declining from 5,900,002 to 4,450,002 over the past week.
Among the key holdings in FNY, trading activity reveals that Coherent Corp (Symbol: COHR) has risen by about 4%, while CSW Industrials Inc (Symbol: CSWI) increased by approximately 0.8%. In contrast, Life Time Group Holdings Inc (Symbol: LTH) saw a decline of about 1.3%. For more details on these investments, check the FNY Holdings page.
FNY’s Price Performance and Technical Analysis
The accompanying chart illustrates FNY’s price performance over the past year compared to its 200-day moving average:
FNY’s shares hit a low of $55.325 and a high of $82.18 over the past 52 weeks, with the latest closing price at $82.17. Evaluating the recent share price against the 200-day moving average can serve as an insightful tool for technical analysis.
Understanding ETFs: Units as a Trading Mechanism
Exchange-traded funds (ETFs) operate similarly to stocks but involve trading ‘units’ instead of shares. These units can be bought and sold like stocks, as well as created or destroyed in response to market demand. Each week, we track the changes in shares outstanding to identify ETFs that face notable inflows (indicating new unit creation) or outflows (implying existing units are being removed). The creation of new units necessitates the purchase of underlying assets, while the destruction of units requires selling those assets, which can affect individual stocks contained within the ETF.
Click here to find out which 9 other ETFs experienced notable outflows »
Also see:
- QFIN market cap history
- Funds Holding PEGA
- SRDX market cap history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
