First Trust Energy AlphaDEX Fund (NYSEARCA:FXN) Trading 0.6% Higher – Should You Buy?

Shares of First Trust Energy AlphaDEX Fund (NYSEARCA:FXN) rose 0.6% during trading on Monday . The company traded as high as $22.03 and last traded at $21.85. Approximately 988,645 shares changed hands during mid-day trading, an increase of 27% from the average daily volume of 777,115 shares. The stock had previously closed at $21.73.

First Trust Energy AlphaDEX Fund Price Performance

The firm’s 50 day moving average is $19.53 and its 200 day moving average is $17.46. The company has a market cap of $335.16 million, a PE ratio of 10.63 and a beta of 0.88.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in shares of First Trust Energy AlphaDEX Fund by 2.6% in the first quarter. Goldman Sachs Group Inc. now owns 105,304 shares of the company’s stock worth $1,740,000 after buying an additional 2,686 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in First Trust Energy AlphaDEX Fund by 3.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 24,536 shares of the company’s stock worth $372,000 after acquiring an additional 746 shares during the last quarter. Quadrature Capital Ltd raised its holdings in shares of First Trust Energy AlphaDEX Fund by 70.7% in the 2nd quarter. Quadrature Capital Ltd now owns 144,242 shares of the company’s stock valued at $2,190,000 after acquiring an additional 59,730 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of First Trust Energy AlphaDEX Fund in the 2nd quarter valued at about $1,178,000. Finally, BNP Paribas Financial Markets boosted its position in shares of First Trust Energy AlphaDEX Fund by 543.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 651,200 shares of the company’s stock valued at $9,885,000 after acquiring an additional 550,000 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.