First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Sees Large Volume Increase – Still a Buy?

Shares of First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) saw strong trading volume on Thursday . Approximately 63,978 shares changed hands during trading, an increase of 258% from the previous session’s volume of 17,886 shares.The stock last traded at $212.7870 and had previously closed at $209.28.

First Trust Technology AlphaDEX Fund Price Performance

The business has a 50 day moving average of $194.47 and a 200 day moving average of $177.32. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 21.63 and a beta of 1.24.

Institutional Trading of First Trust Technology AlphaDEX Fund

Several hedge funds have recently modified their holdings of FXL. Royal Bank of Canada grew its holdings in First Trust Technology AlphaDEX Fund by 7.8% during the 1st quarter. Royal Bank of Canada now owns 67,603 shares of the company’s stock worth $8,941,000 after acquiring an additional 4,878 shares during the period. Jane Street Group LLC raised its position in shares of First Trust Technology AlphaDEX Fund by 20.4% in the 1st quarter. Jane Street Group LLC now owns 13,123 shares of the company’s stock valued at $1,736,000 after acquiring an additional 2,220 shares during the period. Cresset Asset Management LLC grew its holdings in First Trust Technology AlphaDEX Fund by 3.1% during the second quarter. Cresset Asset Management LLC now owns 3,462 shares of the company’s stock valued at $545,000 after purchasing an additional 104 shares during the period. NewEdge Advisors LLC grew its holdings in First Trust Technology AlphaDEX Fund by 5.7% during the second quarter. NewEdge Advisors LLC now owns 25,212 shares of the company’s stock valued at $3,967,000 after purchasing an additional 1,369 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in First Trust Technology AlphaDEX Fund by 6.0% in the second quarter. Ameriprise Financial Inc. now owns 89,050 shares of the company’s stock valued at $14,013,000 after purchasing an additional 5,022 shares in the last quarter.

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.