First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Hits New 1-Year High – Here’s Why

First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) hit 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 trading hands. The stock had previously closed at $221.00.

First Trust Technology AlphaDEX Fund Stock Performance

The business has a 50 day simple moving average of $207.60 and a 200-day simple moving average of $187.67. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 21.63 and a beta of 1.24.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada grew its holdings in First Trust Technology AlphaDEX Fund by 7.8% during the first quarter. Royal Bank of Canada now owns 67,603 shares of the company’s stock worth $8,941,000 after buying an additional 4,878 shares in the last quarter. Jane Street Group LLC lifted its stake in 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 valued at $1,736,000 after acquiring an additional 2,220 shares in the last quarter. Cresset Asset Management LLC boosted its holdings in First Trust Technology AlphaDEX Fund by 3.1% during the 2nd quarter. Cresset Asset Management LLC now owns 3,462 shares of the company’s stock worth $545,000 after acquiring an additional 104 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in First Trust Technology AlphaDEX Fund by 5.7% during the 2nd quarter. NewEdge Advisors LLC now owns 25,212 shares of the company’s stock worth $3,967,000 after acquiring an additional 1,369 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in First Trust Technology AlphaDEX Fund by 6.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 89,050 shares of the company’s stock worth $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.