First Trust Health Care AlphaDEX Fund (NYSEARCA:FXH) Reaches New 52-Week High – Time to Buy?

First Trust Health Care AlphaDEX Fund (NYSEARCA:FXH)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $129.00 and last traded at $128.2340, with a volume of 244 shares changing hands. The stock had previously closed at $128.30.

First Trust Health Care AlphaDEX Fund Stock Up 2.6%

The firm has a market capitalization of $1.08 billion, a P/E ratio of 16.75 and a beta of 0.73. The stock has a fifty day moving average of $121.87 and a 200-day moving average of $116.05.

Hedge Funds Weigh In On First Trust Health Care AlphaDEX Fund

A number of large investors have recently bought and sold shares of FXH. Northwestern Mutual Wealth Management Co. raised its holdings in shares of First Trust Health Care AlphaDEX Fund by 14,737.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,225,142 shares of the company’s stock valued at $139,446,000 after purchasing an additional 1,216,885 shares during the last quarter. Morgan Stanley boosted its holdings in First Trust Health Care AlphaDEX Fund by 1.2% during the fourth quarter. Morgan Stanley now owns 1,004,142 shares of the company’s stock worth $114,293,000 after purchasing an additional 11,576 shares during the last quarter. Bank of America Corp DE grew its position in First Trust Health Care AlphaDEX Fund by 21.1% in the third quarter. Bank of America Corp DE now owns 312,581 shares of the company’s stock valued at $34,281,000 after purchasing an additional 54,400 shares in the last quarter. Wells Fargo & Company MN grew its position in First Trust Health Care AlphaDEX Fund by 1.8% in the fourth quarter. Wells Fargo & Company MN now owns 288,537 shares of the company’s stock valued at $32,842,000 after purchasing an additional 5,066 shares in the last quarter. Finally, Royal Bank of Canada grew its position in First Trust Health Care AlphaDEX Fund by 19.4% in the first quarter. Royal Bank of Canada now owns 78,075 shares of the company’s stock valued at $8,570,000 after purchasing an additional 12,680 shares in the last quarter.

About First Trust Health Care AlphaDEX Fund

The First Trust Health Care AlphaDEX Fund is an exchange-traded fund. The investment objective of the Fund is to seek investment results that correspond generally to the price and yield, before fees and expenses, of an equity index called the StrataQuant Health Care Index. The StrataQuant Health Care Index is an index developed, maintained and sponsored by the NYSE Group, Inc or its affiliates (NYSE), which employs the AlphaDEX stock selection methodology to select stocks from the Russell 1000 Index.