First Trust Utilities AlphaDEX Fund (NYSEARCA:FXU) Hits New 12-Month High – Should You Buy?

First Trust Utilities AlphaDEX Fund (NYSEARCA:FXU)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $48.00 and last traded at $47.9950, with a volume of 471956 shares traded. The stock had previously closed at $47.02.

First Trust Utilities AlphaDEX Fund Price Performance

The stock has a 50 day simple moving average of $45.61 and a 200-day simple moving average of $45.52. The firm has a market cap of $829.81 million, a PE ratio of 17.41 and a beta of 0.67.

Hedge Funds Weigh In On First Trust Utilities AlphaDEX Fund

A number of hedge funds have recently bought and sold shares of FXU. NewEdge Advisors LLC increased its position in shares of First Trust Utilities AlphaDEX Fund by 16.2% during the second quarter. NewEdge Advisors LLC now owns 541,082 shares of the company’s stock valued at $22,931,000 after acquiring an additional 75,448 shares in the last quarter. Rockport Wealth LLC bought a new position in First Trust Utilities AlphaDEX Fund in the 2nd quarter valued at approximately $15,580,000. Gateway Wealth Partners LLC purchased a new stake in First Trust Utilities AlphaDEX Fund during the 2nd quarter valued at $230,000. WCG Wealth Advisors LLC bought a new stake in shares of First Trust Utilities AlphaDEX Fund in the 2nd quarter worth $6,268,000. Finally, Virtue Capital Management LLC raised its stake in shares of First Trust Utilities AlphaDEX Fund by 615.8% in the second quarter. Virtue Capital Management LLC now owns 161,458 shares of the company’s stock worth $6,843,000 after purchasing an additional 138,901 shares during the last quarter.

About First Trust Utilities AlphaDEX Fund

First Trust Utilities 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 Utilities 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.