First Trust Energy AlphaDEX Fund (NYSEARCA:FXN) Sees Strong Trading Volume – Should You Buy?

Shares of First Trust Energy AlphaDEX Fund (NYSEARCA:FXN) saw unusually-high trading volume on Thursday . Approximately 2,329,451 shares traded hands during mid-day trading, an increase of 103% from the previous session’s volume of 1,146,597 shares.The stock last traded at $20.3560 and had previously closed at $20.28.

First Trust Energy AlphaDEX Fund Price Performance

The firm has a 50-day moving average of $21.49 and a 200-day moving average of $19.87. The stock has a market cap of $1.10 billion, a PE ratio of 10.63 and a beta of 0.53.

Institutional Investors Weigh In On First Trust Energy AlphaDEX Fund

Several institutional investors and hedge funds have recently modified their holdings of FXN. Hazlett Burt & Watson Inc. lifted its holdings in shares of First Trust Energy AlphaDEX Fund by 22.1% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 3,866 shares of the company’s stock worth $65,000 after buying an additional 700 shares in the last quarter. Sanctuary Advisors LLC grew its stake in First Trust Energy AlphaDEX Fund by 3.1% during the first quarter. Sanctuary Advisors LLC now owns 34,154 shares of the company’s stock valued at $767,000 after acquiring an additional 1,023 shares in the last quarter. Kesler Norman & Wride LLC increased its holdings in First Trust Energy AlphaDEX Fund by 2.6% in the 4th quarter. Kesler Norman & Wride LLC now owns 43,224 shares of the company’s stock valued at $712,000 after acquiring an additional 1,103 shares during the last quarter. Centaurus Financial Inc. increased its holdings in First Trust Energy AlphaDEX Fund by 4.3% in the 1st quarter. Centaurus Financial Inc. now owns 28,426 shares of the company’s stock valued at $638,000 after acquiring an additional 1,159 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its stake in First Trust Energy AlphaDEX Fund by 53.4% in the 1st quarter. Sound Income Strategies LLC now owns 3,575 shares of the company’s stock worth $78,000 after purchasing an additional 1,244 shares in the last quarter.

About First Trust Energy AlphaDEX Fund

The First Trust Energy AlphaDEX Fund (FXN) is an exchange-traded fund that is based on the StrataQuant Energy index. The fund tracks an index of large- and mid-cap US energy stocks. The underlying index uses multi-factor selection and tiered equal-weighting. FXN was launched on May 8, 2007 and is managed by First Trust.