First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) Trading 0.7% Higher – Should You Buy?

First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) shares rose 0.7% during trading on Monday . The stock traded as high as $75.53 and last traded at $75.12. Approximately 25,868 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 51,306 shares. The stock had previously closed at $74.59.

First Trust Materials AlphaDEX Fund Price Performance

The business has a 50-day moving average of $74.09 and a 200 day moving average of $66.25. The company has a market cap of $296.72 million, a PE ratio of 17.24 and a beta of 1.15.

Institutional Investors Weigh In On First Trust Materials AlphaDEX Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ameriprise Financial Inc. boosted its holdings in shares of First Trust Materials AlphaDEX Fund by 15.1% in the third quarter. Ameriprise Financial Inc. now owns 124,960 shares of the company’s stock worth $7,662,000 after buying an additional 16,382 shares during the last quarter. Cetera Investment Advisers grew its position in First Trust Materials AlphaDEX Fund by 2.5% during the second quarter. Cetera Investment Advisers now owns 92,316 shares of the company’s stock valued at $5,257,000 after buying an additional 2,255 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in First Trust Materials AlphaDEX Fund by 4.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 73,991 shares of the company’s stock valued at $5,131,000 after buying an additional 2,853 shares during the last quarter. Royal Bank of Canada increased its holdings in First Trust Materials AlphaDEX Fund by 31.2% during the first quarter. Royal Bank of Canada now owns 66,097 shares of the company’s stock valued at $3,665,000 after buying an additional 15,706 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in First Trust Materials AlphaDEX Fund by 16.9% in the third quarter. Envestnet Asset Management Inc. now owns 64,302 shares of the company’s stock worth $3,960,000 after acquiring an additional 9,298 shares during the period.

First Trust Materials AlphaDEX Fund Company Profile

The First Trust Materials AlphaDEX Fund (FXZ) is an exchange-traded fund that is based on the StrataQuant Materials index. The fund tracks a tiered, equal-weighted index of large- and mid-cap basic materials firms in the US. Holdings are selected and weighted based on growth and value metrics. FXZ was launched on May 8, 2007 and is managed by First Trust.