First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Hits New 52-Week High – Here’s Why

First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) hit a new 52-week high on Thursday . The company traded as high as $177.74 and last traded at $177.82, with a volume of 10099 shares. The stock had previously closed at $175.00.

First Trust Technology AlphaDEX Fund Stock Up 1.2%

The firm has a market cap of $1.43 billion, a P/E ratio of 21.63 and a beta of 1.17. The business’s 50 day moving average is $164.54 and its two-hundred day moving average is $168.21.

Institutional Investors Weigh In On First Trust Technology AlphaDEX Fund

Several hedge funds and other institutional investors have recently made changes to their positions in FXL. Royal Bank of Canada increased its position in shares of First Trust Technology AlphaDEX Fund by 7.8% during the first quarter. Royal Bank of Canada now owns 67,603 shares of the company’s stock worth $8,941,000 after acquiring an additional 4,878 shares in the last quarter. Jane Street Group LLC increased its position in shares of First Trust Technology AlphaDEX Fund by 20.4% during the first quarter. Jane Street Group LLC now owns 13,123 shares of the company’s stock worth $1,736,000 after acquiring an additional 2,220 shares in the last quarter. Cresset Asset Management LLC increased its position in shares of First Trust Technology AlphaDEX Fund by 3.1% during the second quarter. Cresset Asset Management LLC now owns 3,462 shares of the company’s stock worth $545,000 after acquiring an additional 104 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of First Trust Technology AlphaDEX Fund by 5.7% during the second quarter. NewEdge Advisors LLC now owns 25,212 shares of the company’s stock worth $3,967,000 after acquiring an additional 1,369 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of First Trust Technology AlphaDEX Fund by 6.0% during the second quarter. Ameriprise Financial Inc. now owns 89,050 shares of the company’s stock worth $14,013,000 after acquiring an additional 5,022 shares in the last quarter.

About First Trust Technology AlphaDEX Fund

First Trust Technology 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 Technology 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.