First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Trading 1.7% Higher – Still a Buy?

Shares of First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) rose 1.7% on Thursday . The company traded as high as $214.17 and last traded at $213.63. Approximately 12,266 shares changed hands during trading, a decline of 83% from the average daily volume of 71,274 shares. The stock had previously closed at $209.97.

First Trust Technology AlphaDEX Fund Stock Up 0.7%

The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 21.63 and a beta of 1.25. The stock has a 50 day simple moving average of $208.91 and a 200 day simple moving average of $192.43.

Institutional Investors Weigh In On First Trust Technology AlphaDEX Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Trust Co. of Vermont purchased a new position in shares of First Trust Technology AlphaDEX Fund during the second quarter valued at approximately $45,000. Hilton Head Capital Partners LLC bought a new position in First Trust Technology AlphaDEX Fund during the 4th quarter valued at $42,000. Bessemer Group Inc. lifted its stake in First Trust Technology AlphaDEX Fund by 66.8% during the 1st quarter. Bessemer Group Inc. now owns 387 shares of the company’s stock valued at $62,000 after acquiring an additional 155 shares in the last quarter. RMG Wealth Management LLC purchased a new position in First Trust Technology AlphaDEX Fund during the 1st quarter worth $95,000. Finally, Western Wealth Management LLC purchased a new position in First Trust Technology AlphaDEX Fund during the 1st quarter worth $103,000.

First Trust Technology AlphaDEX Fund Company Profile

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.