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

First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) saw unusually-strong trading volume on Wednesday . Approximately 67,864 shares were traded during trading, an increase of 183% from the previous session’s volume of 23,978 shares.The stock last traded at $138.70 and had previously closed at $141.29.

First Trust Technology AlphaDEX Fund Stock Performance

The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 23.56 and a beta of 1.17. The company has a 50 day moving average price of $149.21 and a two-hundred day moving average price of $147.05.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FXL. Raymond James Financial Inc. purchased a new position in First Trust Technology AlphaDEX Fund during the fourth quarter worth approximately $65,823,000. Independent Advisor Alliance purchased a new position in shares of First Trust Technology AlphaDEX Fund during the 4th quarter worth $11,729,000. LPL Financial LLC boosted its position in shares of First Trust Technology AlphaDEX Fund by 10.2% during the 4th quarter. LPL Financial LLC now owns 492,623 shares of the company’s stock valued at $73,179,000 after acquiring an additional 45,684 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of First Trust Technology AlphaDEX Fund in the fourth quarter valued at about $5,129,000. Finally, Navellier & Associates Inc. acquired a new stake in First Trust Technology AlphaDEX Fund during the fourth quarter worth about $3,334,000.

First Trust Technology AlphaDEX Fund Company Profile

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.