First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Sees Unusually-High Trading Volume – Still a Buy?

First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) shares saw an uptick in trading volume on Monday . 52,673 shares traded hands during mid-day trading, an increase of 217% from the previous session’s volume of 16,596 shares.The stock last traded at $219.5240 and had previously closed at $211.63.

First Trust Technology AlphaDEX Fund Stock Up 2.1%

The stock’s 50-day simple moving average is $182.00 and its 200 day simple moving average is $173.05. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 21.63 and a beta of 1.22.

Institutional Trading of First Trust Technology AlphaDEX Fund

A number of large investors have recently made changes to their positions in FXL. Huntington National Bank purchased a new position in First Trust Technology AlphaDEX Fund in the third quarter valued at approximately $36,000. Optiver Holding B.V. purchased a new position in First Trust Technology AlphaDEX Fund in the third quarter valued at approximately $39,000. Hilton Head Capital Partners LLC purchased a new position in First Trust Technology AlphaDEX Fund in the fourth quarter valued at approximately $42,000. Flagship Harbor Advisors LLC purchased a new position in First Trust Technology AlphaDEX Fund in the fourth quarter valued at approximately $46,000. Finally, Bessemer Group Inc. increased its stake in First Trust Technology AlphaDEX Fund by 66.8% in 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 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. 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.