First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Sets New 52-Week High – Time to Buy?

First Trust Technology AlphaDEX Fund (NYSEARCA:FXL)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $177.51 and last traded at $176.7260, with a volume of 2018 shares traded. The stock had previously closed at $176.09.

First Trust Technology AlphaDEX Fund Price Performance

The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 21.63 and a beta of 1.19. The business’s 50 day moving average price is $170.44 and its 200-day moving average price is $166.90.

Institutional Trading of First Trust Technology AlphaDEX Fund

Several hedge funds have recently modified their holdings of the business. Creative Capital Management Investments LLC purchased a new position in First Trust Technology AlphaDEX Fund in the second quarter worth $29,000. Trust Co. of Vermont purchased a new position in shares of First Trust Technology AlphaDEX Fund in the 2nd quarter valued at about $32,000. Huntington National Bank acquired a new stake in shares of First Trust Technology AlphaDEX Fund in the third quarter valued at about $36,000. FSC Wealth Advisors LLC purchased a new stake in First Trust Technology AlphaDEX Fund during the second quarter worth about $37,000. Finally, Optiver Holding B.V. acquired a new position in First Trust Technology AlphaDEX Fund during the third quarter worth about $39,000.

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.