First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Hits New 1-Year High – Should You Buy?

First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $208.39 and last traded at $204.73, with a volume of 17203 shares traded. The stock had previously closed at $207.05.

First Trust Technology AlphaDEX Fund Stock Up 2.4%

The company’s fifty day moving average price is $180.89 and its 200 day moving average price is $172.70. The company has a market capitalization of $1.70 billion, a P/E ratio of 21.63 and a beta of 1.22.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FXL. Huntington National Bank bought a new position in shares of First Trust Technology AlphaDEX Fund during the third quarter worth approximately $36,000. Optiver Holding B.V. bought a new position in shares of First Trust Technology AlphaDEX Fund during the third quarter worth approximately $39,000. Hilton Head Capital Partners LLC bought a new position in shares of First Trust Technology AlphaDEX Fund during the fourth quarter worth approximately $42,000. Flagship Harbor Advisors LLC bought a new position in shares of First Trust Technology AlphaDEX Fund during the fourth quarter worth approximately $46,000. Finally, Bessemer Group Inc. increased its holdings in shares of First Trust Technology AlphaDEX Fund by 66.8% during the first quarter. Bessemer Group Inc. now owns 387 shares of the company’s stock worth $62,000 after purchasing an additional 155 shares during the period.

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.