First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Shares Down 0.6% – Here’s Why

Shares of First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) dropped 0.6% on Thursday. The stock traded as low as $219.81 and last traded at $221.08. Approximately 14,701 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 67,102 shares. The stock had previously closed at $222.33.

First Trust Technology AlphaDEX Fund Trading Down 0.6%

The firm has a market cap of $2.84 billion, a P/E ratio of 21.63 and a beta of 1.25. The business has a 50-day moving average price of $211.49 and a 200-day moving average price of $197.62.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FXL. Hilton Head Capital Partners LLC purchased a new position in First Trust Technology AlphaDEX Fund during the 4th quarter valued at about $42,000. Trust Co. of Vermont bought a new position in shares of First Trust Technology AlphaDEX Fund during the second quarter valued at approximately $45,000. Bessemer Group Inc. boosted its stake in shares of First Trust Technology AlphaDEX Fund by 66.8% during the first quarter. Bessemer Group Inc. now owns 387 shares of the company’s stock valued at $62,000 after purchasing an additional 155 shares in the last quarter. RMG Wealth Management LLC purchased a new position in First Trust Technology AlphaDEX Fund during the first quarter valued at approximately $95,000. Finally, Western Wealth Management LLC purchased a new position in First Trust Technology AlphaDEX Fund during the first quarter valued at approximately $103,000.

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.