First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) Trading 0.7% Higher – Should You Buy?

First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) shares rose 0.7% during mid-day trading on Monday . The company traded as high as $75.53 and last traded at $75.12. Approximately 25,868 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 51,306 shares. The stock had previously closed at $74.59.

First Trust Materials AlphaDEX Fund Trading Up 0.7%

The firm has a market cap of $296.72 million, a price-to-earnings ratio of 17.24 and a beta of 1.15. The firm’s 50-day moving average is $74.09 and its 200-day moving average is $66.25.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Summit Financial LLC grew its stake in First Trust Materials AlphaDEX Fund by 813.9% in the 4th quarter. Summit Financial LLC now owns 63,029 shares of the company’s stock valued at $4,086,000 after buying an additional 56,132 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of First Trust Materials AlphaDEX Fund during the third quarter worth $3,080,000. PGIM Custom Harvest LLC lifted its position in shares of First Trust Materials AlphaDEX Fund by 568.7% during the second quarter. PGIM Custom Harvest LLC now owns 28,240 shares of the company’s stock worth $1,608,000 after acquiring an additional 24,017 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of First Trust Materials AlphaDEX Fund by 15.1% in the third quarter. Ameriprise Financial Inc. now owns 124,960 shares of the company’s stock worth $7,662,000 after acquiring an additional 16,382 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of First Trust Materials AlphaDEX Fund by 31.2% in the first quarter. Royal Bank of Canada now owns 66,097 shares of the company’s stock worth $3,665,000 after acquiring an additional 15,706 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.