First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Stock Price Up 2.8% – Still a Buy?

First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) shares shot up 2.8% on Monday . The company traded as high as $141.37 and last traded at $141.21. 16,692 shares were traded during mid-day trading, a decline of 30% from the average session volume of 23,849 shares. The stock had previously closed at $137.43.

First Trust Technology AlphaDEX Fund Trading Down 1.9 %

The company has a fifty day moving average price of $149.21 and a two-hundred day moving average price of $147.05. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 23.56 and a beta of 1.17.

Hedge Funds Weigh In On First Trust Technology AlphaDEX Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Truvestments Capital LLC purchased a new position in First Trust Technology AlphaDEX Fund during the third quarter worth about $428,000. FMR LLC raised its position in shares of First Trust Technology AlphaDEX Fund by 45.7% during the 3rd quarter. FMR LLC now owns 2,932 shares of the company’s stock valued at $407,000 after buying an additional 920 shares during the period. Plotkin Financial Advisors LLC acquired a new position in First Trust Technology AlphaDEX Fund in the third quarter valued at approximately $1,541,000. Benjamin Edwards Inc. grew its position in First Trust Technology AlphaDEX Fund by 1,739.5% in the third quarter. Benjamin Edwards Inc. now owns 8,333 shares of the company’s stock worth $1,157,000 after acquiring an additional 7,880 shares during the period. Finally, Jane Street Group LLC increased its stake in First Trust Technology AlphaDEX Fund by 98.9% during the third quarter. Jane Street Group LLC now owns 44,728 shares of the company’s stock worth $6,201,000 after acquiring an additional 22,245 shares during the last quarter.

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.