First Trust Energy AlphaDEX Fund (NYSEARCA:FXN) Trading Up 1.6% – Still a Buy?

First Trust Energy AlphaDEX Fund (NYSEARCA:FXN)’s stock price shot up 1.6% on Tuesday . The company traded as high as $21.68 and last traded at $21.68. 353,841 shares changed hands during trading, a decline of 77% from the average session volume of 1,556,930 shares. The stock had previously closed at $21.33.

First Trust Energy AlphaDEX Fund Stock Up 1.6%

The firm’s fifty day simple moving average is $21.23 and its 200-day simple moving average is $20.41. The firm has a market capitalization of $391.32 million, a PE ratio of 10.63 and a beta of 0.54.

Hedge Funds Weigh In On First Trust Energy AlphaDEX Fund

A number of hedge funds have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in First Trust Energy AlphaDEX Fund during the 4th quarter valued at $28,000. AlphaCore Capital LLC purchased a new position in shares of First Trust Energy AlphaDEX Fund in the fourth quarter worth $31,000. Silver Grove Financial Group Inc. bought a new position in shares of First Trust Energy AlphaDEX Fund during the fourth quarter valued at $39,000. Sound Income Strategies LLC bought a new position in shares of First Trust Energy AlphaDEX Fund during the fourth quarter valued at $40,000. Finally, Hazlett Burt & Watson Inc. boosted its position in shares of First Trust Energy AlphaDEX Fund by 22.1% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 3,866 shares of the company’s stock valued at $65,000 after buying an additional 700 shares during 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.