First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Stock Falls 0.6% – Here’s What Happened

First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) shares were down 0.6% during trading on Thursday. The company traded as low as $219.81 and last traded at $221.08. 14,701 shares were traded during trading, a decline of 78% from the average session volume of 67,102 shares. The stock had previously closed at $222.33.

First Trust Technology AlphaDEX Fund Price Performance

The company has a 50-day simple moving average of $212.01 and a two-hundred day simple moving average of $197.79. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 21.63 and a beta of 1.25.

Hedge Funds Weigh In On First Trust Technology AlphaDEX Fund

Several institutional investors have recently modified their holdings of the company. Nilsine Partners LLC increased its holdings in shares of First Trust Technology AlphaDEX Fund by 6,236.6% in the 2nd quarter. Nilsine Partners LLC now owns 97,521 shares of the company’s stock worth $21,184,000 after acquiring an additional 95,982 shares during the period. Envestnet Asset Management Inc. boosted its stake in First Trust Technology AlphaDEX Fund by 2.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 95,685 shares of the company’s stock valued at $20,785,000 after purchasing an additional 2,467 shares during the period. NewEdge Advisors LLC grew its position in First Trust Technology AlphaDEX Fund by 236.7% in the 2nd quarter. NewEdge Advisors LLC now owns 89,362 shares of the company’s stock worth $19,411,000 after purchasing an additional 62,818 shares during the last quarter. RVW Wealth LLC grew its position in First Trust Technology AlphaDEX Fund by 3.6% in the 2nd quarter. RVW Wealth LLC now owns 63,865 shares of the company’s stock worth $13,873,000 after purchasing an additional 2,234 shares during the last quarter. Finally, Waverly Advisors LLC increased its stake in shares of First Trust Technology AlphaDEX Fund by 10.9% in the second quarter. Waverly Advisors LLC now owns 35,928 shares of the company’s stock valued at $7,804,000 after purchasing an additional 3,518 shares during the period.

About First Trust Technology AlphaDEX Fund

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.