First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Reaches New 1-Year High – Here’s Why

Shares of First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) reached a new 52-week high during trading on Thursday. The stock traded as high as $226.32 and last traded at $225.8760, with a volume of 10379 shares trading hands. The stock had previously closed at $221.00.

First Trust Technology AlphaDEX Fund Stock Performance

The firm’s 50 day moving average is $213.22 and its 200-day moving average is $199.24. The company has a market cap of $2.90 billion, a PE ratio of 21.63 and a beta of 1.25.

Institutional Investors Weigh In On First Trust Technology AlphaDEX Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hilton Head Capital Partners LLC acquired a new stake in shares of First Trust Technology AlphaDEX Fund in the fourth quarter worth $42,000. Trust Co. of Vermont purchased a new position in First Trust Technology AlphaDEX Fund during the 2nd quarter valued at about $45,000. Bessemer Group Inc. lifted its stake in shares of First Trust Technology AlphaDEX Fund by 66.8% in the 1st quarter. Bessemer Group Inc. now owns 387 shares of the company’s stock valued at $62,000 after purchasing an additional 155 shares during the last quarter. RMG Wealth Management LLC bought a new stake in shares of First Trust Technology AlphaDEX Fund in the first quarter valued at about $95,000. Finally, Western Wealth Management LLC bought a new stake in shares of First Trust Technology AlphaDEX Fund in the 1st quarter worth about $103,000.

First Trust Technology AlphaDEX Fund Company Profile

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.