First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Reaches New 52-Week High – Still a Buy?

First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) shares reached a new 52-week high on Thursday . The stock traded as high as $224.78 and last traded at $224.32, with a volume of 2518 shares. The stock had previously closed at $221.00.

First Trust Technology AlphaDEX Fund Stock Performance

The stock has a market capitalization of $2.89 billion, a P/E ratio of 21.63 and a beta of 1.24. The firm’s fifty day simple moving average is $207.17 and its 200 day simple moving average is $187.05.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of First Trust Technology AlphaDEX Fund by 7.8% in the 1st quarter. Royal Bank of Canada now owns 67,603 shares of the company’s stock valued at $8,941,000 after purchasing an additional 4,878 shares during the last quarter. Jane Street Group LLC lifted its position in shares of First Trust Technology AlphaDEX Fund by 20.4% during the 1st quarter. Jane Street Group LLC now owns 13,123 shares of the company’s stock worth $1,736,000 after buying an additional 2,220 shares during the last quarter. Cresset Asset Management LLC boosted its stake in First Trust Technology AlphaDEX Fund by 3.1% in the second quarter. Cresset Asset Management LLC now owns 3,462 shares of the company’s stock valued at $545,000 after buying an additional 104 shares in the last quarter. NewEdge Advisors LLC boosted its stake in First Trust Technology AlphaDEX Fund by 5.7% in the second quarter. NewEdge Advisors LLC now owns 25,212 shares of the company’s stock valued at $3,967,000 after buying an additional 1,369 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in First Trust Technology AlphaDEX Fund by 6.0% in the second quarter. Ameriprise Financial Inc. now owns 89,050 shares of the company’s stock valued at $14,013,000 after acquiring an additional 5,022 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.