First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Sees Large Volume Increase – Still a Buy?

Shares of First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) saw strong trading volume on Friday . 79,665 shares were traded during mid-day trading, an increase of 201% from the previous session’s volume of 26,458 shares.The stock last traded at $142.57 and had previously closed at $141.27.

First Trust Technology AlphaDEX Fund Stock Performance

The firm’s fifty day moving average price is $136.70 and its 200 day moving average price is $134.14. The firm has a market cap of $1.43 billion, a P/E ratio of 25.10 and a beta of 1.51.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in FXL. Advisor Resource Council bought a new position in shares of First Trust Technology AlphaDEX Fund during the 1st quarter worth approximately $250,000. Ashton Thomas Private Wealth LLC lifted its holdings in shares of First Trust Technology AlphaDEX Fund by 252.9% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 7,461 shares of the company’s stock valued at $1,006,000 after purchasing an additional 5,347 shares during the last quarter. TFG Advisers LLC grew its stake in First Trust Technology AlphaDEX Fund by 1.8% during the 1st quarter. TFG Advisers LLC now owns 8,511 shares of the company’s stock worth $1,147,000 after buying an additional 151 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in First Trust Technology AlphaDEX Fund by 13.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,431 shares of the company’s stock worth $597,000 after buying an additional 530 shares during the last quarter. Finally, US Bancorp DE increased its position in First Trust Technology AlphaDEX Fund by 1.0% during the 1st quarter. US Bancorp DE now owns 18,055 shares of the company’s stock valued at $2,434,000 after buying an additional 172 shares in 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.