First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Trading 1.4% Higher – Should You Buy?

Shares of First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) rose 1.4% on Friday . The stock traded as high as $203.15 and last traded at $200.00. 31,187 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 79,016 shares. The stock had previously closed at $197.32.

First Trust Technology AlphaDEX Fund Stock Up 1.4%

The stock has a market capitalization of $2.57 billion, a P/E ratio of 21.63 and a beta of 1.23. The business has a fifty day moving average price of $206.86 and a 200-day moving average price of $184.73.

Hedge Funds Weigh In On First Trust Technology AlphaDEX Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Stonekeep Investments LLC purchased a new stake in shares of First Trust Technology AlphaDEX Fund during the 2nd quarter valued at about $226,000. Focus Financial Network Inc. bought a new stake in shares of First Trust Technology AlphaDEX Fund in the second quarter worth approximately $234,000. Allied Private Wealth LLC purchased a new position in shares of First Trust Technology AlphaDEX Fund during the second quarter valued at approximately $397,000. Valeo Financial Advisors LLC purchased a new position in shares of First Trust Technology AlphaDEX Fund during the second quarter valued at approximately $249,000. Finally, MRA Advisory Group purchased a new position in shares of First Trust Technology AlphaDEX Fund during the second quarter valued at approximately $227,000.

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.