First Trust Utilities AlphaDEX Fund (NYSEARCA:FXU) Stock Price Up 0.6% – Here’s Why

First Trust Utilities AlphaDEX Fund (NYSEARCA:FXU)’s share price shot up 0.6% during trading on Thursday . The company traded as high as $48.00 and last traded at $47.84. 184,800 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 610,396 shares. The stock had previously closed at $47.56.

First Trust Utilities AlphaDEX Fund Stock Performance

The stock has a fifty day moving average of $48.98 and a 200 day moving average of $47.81. The company has a market capitalization of $863.51 million, a P/E ratio of 17.41 and a beta of 0.61.

Hedge Funds Weigh In On First Trust Utilities AlphaDEX Fund

A number of institutional investors have recently bought and sold shares of the stock. First Trust Advisors LP raised its holdings in First Trust Utilities AlphaDEX Fund by 5.3% in the 4th quarter. First Trust Advisors LP now owns 16,901,242 shares of the company’s stock worth $760,725,000 after purchasing an additional 849,177 shares during the period. Morgan Stanley raised its holdings in First Trust Utilities AlphaDEX Fund by 7.2% in the 4th quarter. Morgan Stanley now owns 3,172,178 shares of the company’s stock worth $142,780,000 after purchasing an additional 213,428 shares during the period. LPL Financial LLC raised its holdings in First Trust Utilities AlphaDEX Fund by 8.5% during the fourth quarter. LPL Financial LLC now owns 1,707,256 shares of the company’s stock valued at $76,844,000 after acquiring an additional 134,092 shares during the period. Raymond James Financial Inc. raised its holdings in First Trust Utilities AlphaDEX Fund by 13.0% during the third quarter. Raymond James Financial Inc. now owns 932,394 shares of the company’s stock valued at $42,377,000 after acquiring an additional 107,425 shares during the period. Finally, Bank of America Corp DE raised its holdings in First Trust Utilities AlphaDEX Fund by 10.9% during the third quarter. Bank of America Corp DE now owns 861,617 shares of the company’s stock valued at $39,161,000 after acquiring an additional 84,697 shares during the period.

First Trust Utilities AlphaDEX Fund Company Profile

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.