First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) Trading Up 1.3% – Time to Buy?

First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ)’s share price rose 1.3% during mid-day trading on Tuesday . The company traded as high as $82.49 and last traded at $82.00. Approximately 28,361 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 54,312 shares. The stock had previously closed at $80.91.

First Trust Materials AlphaDEX Fund Price Performance

The stock’s 50-day moving average price is $79.99 and its 200-day moving average price is $74.04. The company has a market cap of $393.60 million, a P/E ratio of 17.24 and a beta of 1.02.

Institutional Investors Weigh In On First Trust Materials AlphaDEX Fund

A number of institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC boosted its position in shares of First Trust Materials AlphaDEX Fund by 75.7% in the first quarter. NewEdge Advisors LLC now owns 1,509 shares of the company’s stock valued at $115,000 after acquiring an additional 650 shares during the period. Western Wealth Management LLC bought a new stake in shares of First Trust Materials AlphaDEX Fund in the first quarter valued at about $49,000. Bank of America Corp DE boosted its position in shares of First Trust Materials AlphaDEX Fund by 277.6% in the first quarter. Bank of America Corp DE now owns 385,160 shares of the company’s stock valued at $29,353,000 after acquiring an additional 283,145 shares during the period. Royal Bank of Canada boosted its position in shares of First Trust Materials AlphaDEX Fund by 37.1% in the first quarter. Royal Bank of Canada now owns 57,511 shares of the company’s stock valued at $4,382,000 after acquiring an additional 15,577 shares during the period. Finally, Barometer Capital Management Inc. bought a new stake in shares of First Trust Materials AlphaDEX Fund in the first quarter valued at about $236,000.

About First Trust Materials AlphaDEX Fund

The First Trust Materials AlphaDEX Fund (FXZ) is an exchange-traded fund that is based on the StrataQuant Materials index. The fund tracks a tiered, equal-weighted index of large- and mid-cap basic materials firms in the US. Holdings are selected and weighted based on growth and value metrics. FXZ was launched on May 8, 2007 and is managed by First Trust.