First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Hits New 1-Year High – Still a Buy?

by · The Cerbat Gem

First Trust Technology AlphaDEX Fund (NYSEARCA:FXL – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $186.52 and last traded at $183.40, with a volume of 23549 shares. The stock had previously closed at $183.10.

First Trust Technology AlphaDEX Fund Trading Down 1.5%

The firm’s fifty day simple moving average is $166.32 and its 200 day simple moving average is $168.74. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 21.63 and a beta of 1.17.

Hedge Funds Weigh In On First Trust Technology AlphaDEX Fund

Institutional investors and hedge funds have recently modified their holdings of the company. OLD National Bancorp IN increased its holdings in First Trust Technology AlphaDEX Fund by 2.5% in the first quarter. OLD National Bancorp IN now owns 2,390 shares of the company’s stock valued at $380,000 after buying an additional 59 shares during the last quarter. Forty three Eighteen Advisors LLC acquired a new stake in First Trust Technology AlphaDEX Fund in the fourth quarter valued at $1,549,000. World Investment Advisors lifted its holdings in First Trust Technology AlphaDEX Fund by 21.8% during the 4th quarter. World Investment Advisors now owns 2,589 shares of the company’s stock worth $436,000 after buying an additional 464 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in First Trust Technology AlphaDEX Fund during the 4th quarter worth about $505,000. Finally, Worthington Financial Partners LLC acquired a new position in shares of First Trust Technology AlphaDEX Fund during the 4th quarter worth about $640,000.

First Trust Technology AlphaDEX Fund Company Profile

(Get Free Report)

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.

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