First Trust Energy AlphaDEX Fund (NYSEARCA:FXN) Stock Price Up 1.1% – Time to Buy?

First Trust Energy AlphaDEX Fund (NYSEARCA:FXN) shares shot up 1.1% during trading on Tuesday . The stock traded as high as $22.79 and last traded at $22.75. Approximately 296,550 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 1,439,398 shares. The stock had previously closed at $22.50.

First Trust Energy AlphaDEX Fund Stock Performance

The firm has a market capitalization of $390.16 million, a price-to-earnings ratio of 10.63 and a beta of 0.54. The company has a 50 day moving average price of $21.16 and a two-hundred day moving average price of $20.93.

Institutional Investors Weigh In On First Trust Energy AlphaDEX Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Trust Advisors LP acquired a new position in First Trust Energy AlphaDEX Fund during the first quarter worth $672,402,000. NewEdge Advisors LLC grew its position in shares of First Trust Energy AlphaDEX Fund by 1,886.8% in the first quarter. NewEdge Advisors LLC now owns 684,027 shares of the company’s stock valued at $15,363,000 after purchasing an additional 649,599 shares during the period. BNP Paribas Financial Markets increased its stake in shares of First Trust Energy AlphaDEX Fund by 543.5% during the second quarter. BNP Paribas Financial Markets now owns 651,200 shares of the company’s stock worth $9,885,000 after purchasing an additional 550,000 shares in the last quarter. D.A. Davidson & CO. increased its stake in shares of First Trust Energy AlphaDEX Fund by 2,201.2% during the first quarter. D.A. Davidson & CO. now owns 251,057 shares of the company’s stock worth $5,639,000 after purchasing an additional 240,147 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of First Trust Energy AlphaDEX Fund by 131.2% during the 1st quarter. Royal Bank of Canada now owns 325,290 shares of the company’s stock worth $7,306,000 after purchasing an additional 184,619 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.