First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Stock Jumps 0.4% – Still a Buy?

First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) shares were up 0.4% during mid-day trading on Wednesday. The company traded as high as $226.35 and last traded at $225.94. Approximately 12,537 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 67,915 shares. The stock had previously closed at $225.10.

First Trust Technology AlphaDEX Fund Stock Performance

The stock has a fifty day moving average of $218.85 and a 200-day moving average of $195.05. The company has a market cap of $2.84 billion, a PE ratio of 21.63 and a beta of 1.26.

Institutional Investors Weigh In On First Trust Technology AlphaDEX Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its position in First Trust Technology AlphaDEX Fund by 1,350.7% during the third quarter. International Assets Investment Management LLC now owns 58,784 shares of the company’s stock valued at $12,991,000 after acquiring an additional 54,732 shares in the last quarter. Choreo LLC acquired a new position in First Trust Technology AlphaDEX Fund in the third quarter valued at approximately $373,000. D.A. Davidson & CO. purchased a new stake in First Trust Technology AlphaDEX Fund in the 3rd quarter worth approximately $9,486,000. William Mack & Associates Inc. purchased a new stake in First Trust Technology AlphaDEX Fund in the 3rd quarter worth approximately $151,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in First Trust Technology AlphaDEX Fund in the 3rd quarter worth approximately $6,404,000.

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.