FNK Volume Surges 15x as Lithia, Peers Draw Calls

First Trust Mid Cap Value AlphaDEX Fund (FNK) has seen unusual trading volume, which is 15× higher than its average daily volume.

Among FNK’s top holdings, Lithia Motors, Meritage Homes, Commercial Metals, Mohawk Industries, and First American Financial all saw fresh analyst activity or notable stock moves in the last day. Lithia Motors drew mixed but generally positive attention as Seaport Global reiterated a Buy rating while JPMorgan and others trimmed price targets ahead of Q1 results, citing weather-driven earnings pressure for auto dealers. Homebuilder Meritage Homes had its price target cut and is now rated Hold at Evercore ISI, which argues that much of the bad news is already priced into the sector, while Commercial Metals remained favored by JPMorgan, which kept an Overweight rating despite lowering its target as it sees tight supply supporting North American steel. Mohawk Industries continues to carry Hold ratings from Evercore and Wells Fargo after a quarter of modest profit and negative insider sentiment, and First American Financial is volatile as investors reassess earlier optimism, even as Barclays reaffirmed a Buy rating and a higher price target amid a Strong Buy consensus ahead of its April 22 earnings report.