First Trust Energy AlphaDEX Fund (NYSEARCA:FXN) Stock Price Up 2% – Should You Buy?

Shares of First Trust Energy AlphaDEX Fund (NYSEARCA:FXN) shot up 2% during mid-day trading on Friday . The stock traded as high as $22.30 and last traded at $22.27. 573,856 shares traded hands during trading, a decline of 55% from the average session volume of 1,262,894 shares. The stock had previously closed at $21.84.

First Trust Energy AlphaDEX Fund Price Performance

The company has a market capitalization of $1.20 billion, a PE ratio of 10.63 and a beta of 0.56. The company’s fifty day moving average is $21.53 and its 200-day moving average is $18.83.

Institutional Trading of First Trust Energy AlphaDEX Fund

Several hedge funds have recently modified their holdings of the company. Gateway Wealth Partners LLC grew its position in shares of First Trust Energy AlphaDEX Fund by 19.8% in the 1st quarter. Gateway Wealth Partners LLC now owns 12,072 shares of the company’s stock worth $271,000 after buying an additional 1,994 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of First Trust Energy AlphaDEX Fund by 11.9% during the 1st quarter. Cetera Investment Advisers now owns 112,966 shares of the company’s stock worth $2,537,000 after acquiring an additional 12,005 shares in the last quarter. First Trust Advisors LP bought a new position in shares of First Trust Energy AlphaDEX Fund during the 1st quarter worth approximately $672,402,000. Parallel Advisors LLC boosted its stake in First Trust Energy AlphaDEX Fund by 440.8% in the first quarter. Parallel Advisors LLC now owns 7,031 shares of the company’s stock valued at $158,000 after acquiring an additional 5,731 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its stake in First Trust Energy AlphaDEX Fund by 2,201.2% in the first quarter. D.A. Davidson & CO. now owns 251,057 shares of the company’s stock valued at $5,639,000 after acquiring an additional 240,147 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.