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

First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) saw unusually-high trading volume on Wednesday . Approximately 54,662 shares traded hands during trading, an increase of 223% from the previous session’s volume of 16,934 shares.The stock last traded at $203.0460 and had previously closed at $207.63.

First Trust Technology AlphaDEX Fund Stock Performance

The stock has a 50 day moving average price of $188.54 and a two-hundred day moving average price of $175.25. The company has a market capitalization of $1.62 billion, a PE ratio of 21.63 and a beta of 1.24.

Institutional Investors Weigh In On First Trust Technology AlphaDEX Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Western Wealth Management LLC acquired a new position in shares of First Trust Technology AlphaDEX Fund during the 1st quarter valued at about $103,000. Quantinno Capital Management LP acquired a new position in shares of First Trust Technology AlphaDEX Fund during the 1st quarter valued at about $264,000. Gateway Wealth Partners LLC increased its holdings in shares of First Trust Technology AlphaDEX Fund by 92.7% during the 1st quarter. Gateway Wealth Partners LLC now owns 6,094 shares of the company’s stock valued at $968,000 after acquiring an additional 2,932 shares during the last quarter. RMG Wealth Management LLC acquired a new position in shares of First Trust Technology AlphaDEX Fund during the 1st quarter valued at about $95,000. Finally, Dorsey Wright & Associates acquired a new position in shares of First Trust Technology AlphaDEX Fund during the 1st quarter valued at about $708,000.

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.