First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Hits New 1-Year High – Time to Buy?

First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $159.84 and last traded at $159.27, with a volume of 1637 shares changing hands. The stock had previously closed at $159.11.

First Trust Technology AlphaDEX Fund Price Performance

The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 25.10 and a beta of 1.51. The firm has a 50 day moving average price of $154.02 and a 200-day moving average price of $145.07.

Hedge Funds Weigh In On First Trust Technology AlphaDEX Fund

Several hedge funds have recently added to or reduced their stakes in FXL. Stratos Wealth Advisors LLC grew its holdings in shares of First Trust Technology AlphaDEX Fund by 42.8% during the third quarter. Stratos Wealth Advisors LLC now owns 2,167 shares of the company’s stock worth $300,000 after buying an additional 650 shares in the last quarter. TFG Advisers LLC grew its stake in First Trust Technology AlphaDEX Fund by 2.9% in the third quarter. TFG Advisers LLC now owns 9,056 shares of the company’s stock valued at $1,256,000 after purchasing an additional 254 shares in the last quarter. Convergence Financial LLC boosted its stake in shares of First Trust Technology AlphaDEX Fund by 15.9% during the 3rd quarter. Convergence Financial LLC now owns 3,318 shares of the company’s stock worth $460,000 after acquiring an additional 455 shares during the period. Arkadios Wealth Advisors boosted its stake in shares of First Trust Technology AlphaDEX Fund by 4.8% during the 3rd quarter. Arkadios Wealth Advisors now owns 9,401 shares of the company’s stock worth $1,303,000 after acquiring an additional 430 shares during the period. Finally, Strategic Blueprint LLC lifted its holdings in First Trust Technology AlphaDEX Fund by 16.7% during the 3rd quarter. Strategic Blueprint LLC now owns 33,004 shares of the company’s stock worth $4,576,000 after purchasing an additional 4,731 shares during 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.