First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) Stock Falls 2.5% – Should You Sell?

First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) dropped 2.5% on Thursday. The company traded as low as $73.81 and last traded at $74.03. Approximately 122,018 shares traded hands during trading, an increase of 142% from the average daily volume of 50,463 shares. The stock had previously closed at $75.93.

First Trust Materials AlphaDEX Fund Stock Performance

The business has a 50 day simple moving average of $79.29 and a 200-day simple moving average of $78.98. The firm has a market capitalization of $355.20 million, a price-to-earnings ratio of 17.24 and a beta of 1.07.

Institutional Trading of First Trust Materials AlphaDEX Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in FXZ. Signaturefd LLC purchased a new stake in First Trust Materials AlphaDEX Fund in the third quarter valued at $26,000. Western Wealth Management LLC purchased a new position in shares of First Trust Materials AlphaDEX Fund during the 1st quarter worth $49,000. Security National Bank of Sioux City Iowa IA acquired a new stake in shares of First Trust Materials AlphaDEX Fund during the 2nd quarter worth about $91,000. Parallel Advisors LLC increased its position in shares of First Trust Materials AlphaDEX Fund by 25.6% during the 1st quarter. Parallel Advisors LLC now owns 1,225 shares of the company’s stock worth $93,000 after purchasing an additional 250 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in First Trust Materials AlphaDEX Fund by 75.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,509 shares of the company’s stock valued at $115,000 after buying an additional 650 shares during the period.

First Trust Materials AlphaDEX Fund Company Profile

The First Trust Materials AlphaDEX Fund (FXZ) is an exchange-traded fund that is based on the StrataQuant Materials index. The fund tracks a tiered, equal-weighted index of large- and mid-cap basic materials firms in the US. Holdings are selected and weighted based on growth and value metrics. FXZ was launched on May 8, 2007 and is managed by First Trust.