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 Friday . 47,752 shares changed hands during mid-day trading, an increase of 93% from the previous session’s volume of 24,744 shares.The stock last traded at $151.73 and had previously closed at $148.95.

First Trust Technology AlphaDEX Fund Stock Up 1.7 %

The company’s 50-day moving average is $148.89 and its 200-day moving average is $139.75. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 25.10 and a beta of 1.51.

Hedge Funds Weigh In On First Trust Technology AlphaDEX Fund

Several institutional investors have recently added to or reduced their stakes in the company. Zions Bancorporation N.A. bought a new position in First Trust Technology AlphaDEX Fund in the 2nd quarter valued at $123,000. Cypress Wealth Services LLC bought a new position in shares of First Trust Technology AlphaDEX Fund in the third quarter valued at about $202,000. TIAA Trust National Association acquired a new position in First Trust Technology AlphaDEX Fund during the 2nd quarter worth about $209,000. Fidelis Capital Partners LLC bought a new stake in First Trust Technology AlphaDEX Fund during the 3rd quarter worth about $219,000. Finally, Daymark Wealth Partners LLC bought a new stake in First Trust Technology AlphaDEX Fund during the 2nd quarter worth about $243,000.

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.