First Trust Financials AlphaDEX Fund (NYSEARCA:FXO) Trading Up 0.8% – Should You Buy?

Shares of First Trust Financials AlphaDEX Fund (NYSEARCA:FXO) were up 0.8% on Wednesday . The company traded as high as $59.63 and last traded at $59.25. Approximately 48,553 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 170,076 shares. The stock had previously closed at $58.78.

First Trust Financials AlphaDEX Fund Stock Up 0.8%

The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 12.42 and a beta of 1.04. The company has a 50 day simple moving average of $58.15 and a 200-day simple moving average of $57.04.

Institutional Investors Weigh In On First Trust Financials AlphaDEX Fund

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. raised its stake in shares of First Trust Financials AlphaDEX Fund by 279.7% in the second quarter. Russell Investments Group Ltd. now owns 543 shares of the company’s stock worth $30,000 after purchasing an additional 400 shares during the last quarter. Providence Capital Advisors LLC purchased a new stake in First Trust Financials AlphaDEX Fund in the 3rd quarter valued at $41,000. Creative Financial Designs Inc. ADV purchased a new stake in First Trust Financials AlphaDEX Fund in the 2nd quarter valued at $56,000. Hurley Capital LLC bought a new position in First Trust Financials AlphaDEX Fund during the 1st quarter valued at $55,000. Finally, Motco purchased a new position in First Trust Financials AlphaDEX Fund during the 2nd quarter worth $63,000.

First Trust Financials AlphaDEX Fund Company Profile

First Trust Financials AlphaDEX Fund (the Fund) is an exchange-traded fund. It seeks investment results that correspond generally to the price and yield of an equity index called the StrataQuant Financials Index (the Index). The StrataQuant Financials 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.