First Trust Utilities AlphaDEX Fund (NYSEARCA:FXU) Hits New 12-Month High – Should You Buy?

First Trust Utilities AlphaDEX Fund (NYSEARCA:FXU) shares hit a new 52-week high on Tuesday . The company traded as high as $48.00 and last traded at $47.9950, with a volume of 471956 shares trading hands. The stock had previously closed at $47.02.

First Trust Utilities AlphaDEX Fund Price Performance

The stock’s 50 day moving average is $45.61 and its 200-day moving average is $45.52. The company has a market capitalization of $829.81 million, a P/E ratio of 17.41 and a beta of 0.67.

Institutional Investors Weigh In On First Trust Utilities AlphaDEX Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FXU. Royal Bank of Canada boosted its holdings in shares of First Trust Utilities AlphaDEX Fund by 919.6% during the 1st quarter. Royal Bank of Canada now owns 146,985 shares of the company’s stock valued at $6,028,000 after buying an additional 132,569 shares in the last quarter. Jane Street Group LLC bought a new stake in First Trust Utilities AlphaDEX Fund during the first quarter worth about $832,000. IFP Advisors Inc boosted its stake in First Trust Utilities AlphaDEX Fund by 40.4% during the second quarter. IFP Advisors Inc now owns 9,697 shares of the company’s stock worth $411,000 after acquiring an additional 2,790 shares in the last quarter. Blue Trust Inc. grew its holdings in First Trust Utilities AlphaDEX Fund by 276.9% in the second quarter. Blue Trust Inc. now owns 833 shares of the company’s stock worth $35,000 after purchasing an additional 612 shares during the period. Finally, CWM LLC increased its stake in shares of First Trust Utilities AlphaDEX Fund by 724.7% during the second quarter. CWM LLC now owns 71,218 shares of the company’s stock valued at $3,018,000 after purchasing an additional 62,582 shares in the last quarter.

First Trust Utilities AlphaDEX Fund Company Profile

First Trust Utilities AlphaDEX Fund (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield of an equity index called the StrataQuant Utilities Index (the Index). The Index is an enhanced index created and administered by the AMEX, which employs the AlphaDEX stock selection methodology to select stocks from the Russell 1000 Index. The AMEX constructs the Index by ranking the stocks, which are members of the Russell 1000 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.