FNX Stock Summary and Trading Ideas (First Trust Mid Cap Core Alphadex | NASDAQ:FNX)

The Fund will seek investment results that correspond generally to the price and yield (before the Funds fees and expenses) of an equity index called the NASDAQ AlphaDEX Mid Cap Core Index. The Index is a modified equal dollar-weighted index developed and maintained by The NASDAQ OMX Group, Inc. that is designed to generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX selection methodology. The Index is created and administered by Nasdaq, Inc. which employs the AlphaDEX stock selection methodology to select stocks from the NASDAQ US 600 Mid Cap Index that meet certain criteria. Nasdaq constructs the NASDAQ AlphaDEX Mid Cap Core Index by ranking the top 450 eligible stocks from the NASDAQ US 600 Mid Cap Index on growth factors including 3-, 6- and 12- month price appreciation, sales to price and one year sales growth, and separately on value factors including book value to price, cash flow to price and return on assets. The selected stocks are divided into quintiles based on their rankings and the top ranked quintiles receive a higher weight within the index. The stocks are equally-weighted within each quintile. The index is reconstituted and rebalanced quarterly.

First Trust Mid Cap Core Alphadex trades on the NASDAQ stock market under the symbol FNX.

As of April 24, 2024, FNX stock price climbed to $108.04 with 21,781 million shares trading.

FNX has a beta of 1.18, meaning it tends to be more sensitive to market movements. FNX has a correlation of 0.68 to the broad based SPY ETF.

FNX has a market cap of $1.16 billion. This is considered a Small Cap stock.

In the last 3 years, FNX stock traded as high as $113.75 and as low as $79.36.

FNX has underperformed the market in the last year with a price return of +21.6% while the SPY ETF gained +24.2%. However, in the short term, FNX had mixed performance relative to the market. It has outperformed in the last 3 months, returning +5.3% vs +4.6% return in SPY. But in the last 2 weeks, FNX shares have been beat by the market, returning -3.1% compared to an SPY return of -2.7%.

FNX support price is $106.62 and resistance is $109.32 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that FNX stock will trade within this expected range on the day.