First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) saw unusually-high trading volume on Thursday . Approximately 63,978 shares traded hands during trading, an increase of 258% from the previous session’s volume of 17,886 shares.The stock last traded at $212.7870 and had previously closed at $209.28.

First Trust Technology AlphaDEX Fund Price Performance

The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 21.63 and a beta of 1.24. The company’s 50-day simple moving average is $196.36 and its 200-day simple moving average is $177.91.

Hedge Funds Weigh In On First Trust Technology AlphaDEX Fund

A number of hedge funds have recently modified their holdings of the stock. Royal Bank of Canada lifted its holdings in shares of 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 valued at $8,941,000 after purchasing an additional 4,878 shares during the last quarter. Jane Street Group LLC boosted its position in shares of First Trust Technology AlphaDEX Fund by 20.4% in the 1st quarter. Jane Street Group LLC now owns 13,123 shares of the company’s stock valued at $1,736,000 after purchasing an additional 2,220 shares during the period. Cresset Asset Management LLC increased its stake in First Trust Technology AlphaDEX Fund by 3.1% in the 2nd quarter. Cresset Asset Management LLC now owns 3,462 shares of the company’s stock worth $545,000 after purchasing an additional 104 shares in the last quarter. NewEdge Advisors LLC increased its stake in First Trust Technology AlphaDEX Fund by 5.7% in the 2nd quarter. NewEdge Advisors LLC now owns 25,212 shares of the company’s stock worth $3,967,000 after purchasing an additional 1,369 shares in the last quarter. Finally, Ameriprise Financial Inc. raised 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 buying an additional 5,022 shares during the period.

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. 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.