See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
First Trust Mid Cap Core AlphaDEX ETF (FNX) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
First Trust Mid Cap Core AlphaDEX ETF (FNX) - free report >>
Image: Bigstock
Mid-Cap ETF (FNX) Hits New 52-Week High
For investors seeking momentum, First Trust Mid Cap Core AlphaDEX Fund (FNX - Free Report) is probably on radar now. The fund just hit a 52-week high and is up over 40.3% from its 52-week low price of $41.36/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:
FNX in Focus
This product offers exposure to U.S. mid-cap growth stocks. Industrials, Financials, Information Technology and Consumer Discretionary are the top six sectors of the fund with a double-digit weight each. The fund charges 63 bps in fees (see: all Mid-Cap ETFs here).
Why the Move?
The U.S. markets are in great shape since Trump won the election. The President-elect has promised to introduce a burst of stimulus by increasing infrastructure spending package, easing regulations and tax cuts with an aim of accelerating economic growth and creating more jobs in the country. Mid-caps look to be the preferred bets right now as these are less perturbed by the negative currency translation on a stronger greenback, thanks to their lesser foreign exposure. On the other hand, mid-cap stocks are not as volatile as small caps.
More Gains Ahead?
The fund has a Zacks ETF Rank #3 (Hold). So, it is hard to get a handle on its future returns one way or another. But it seems that FNX might continue with its strength given a positive weighted alpha of 25.30. As a result, there is definitely still some promise for investors who want to ride on this surging ETF
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>