First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Reaches New 52-Week High – Still a Buy?

First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) shares reached a new 52-week high on Thursday . The company traded as high as $224.78 and last traded at $224.32, with a volume of 2518 shares changing hands. The stock had previously closed at $221.00.

First Trust Technology AlphaDEX Fund Stock Up 1.6%

The company has a 50 day moving average price of $207.17 and a 200-day moving average price of $187.05. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 21.63 and a beta of 1.24.

Hedge Funds Weigh In On First Trust Technology AlphaDEX Fund

A number of hedge funds have recently modified their holdings of FXL. Bensler LLC acquired a new stake in First Trust Technology AlphaDEX Fund during the 4th quarter valued at approximately $200,000. Retirement Planning Group LLC raised its holdings in First Trust Technology AlphaDEX Fund by 2.6% during the 4th quarter. Retirement Planning Group LLC now owns 9,449 shares of the company’s stock worth $1,590,000 after purchasing an additional 239 shares during the last quarter. RCW Management LLC acquired a new position in shares of First Trust Technology AlphaDEX Fund in the 4th quarter worth approximately $494,000. Ashton Thomas Private Wealth LLC boosted its stake in shares of First Trust Technology AlphaDEX Fund by 0.8% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 7,192 shares of the company’s stock valued at $1,210,000 after purchasing an additional 60 shares during the last quarter. Finally, UBS Group AG boosted its stake in shares of First Trust Technology AlphaDEX Fund by 2.8% in the 4th quarter. UBS Group AG now owns 144,319 shares of the company’s stock valued at $24,286,000 after purchasing an additional 3,978 shares during the last quarter.

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.