First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) Shares Up 1.3% – Here’s Why

Shares of First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) shot up 1.3% during mid-day trading on Tuesday . The stock traded as high as $82.49 and last traded at $82.00. 28,361 shares changed hands during trading, a decline of 48% from the average session volume of 54,312 shares. The stock had previously closed at $80.91.

First Trust Materials AlphaDEX Fund Stock Up 4.1%

The firm has a fifty day moving average of $80.25 and a 200-day moving average of $74.37. The stock has a market capitalization of $399.65 million, a price-to-earnings ratio of 17.24 and a beta of 1.02.

Hedge Funds Weigh In On First Trust Materials AlphaDEX Fund

Hedge funds and other institutional investors have recently bought and sold shares of the company. Western Wealth Management LLC acquired a new position in First Trust Materials AlphaDEX Fund during the first quarter worth $49,000. NBC Securities Inc. raised its holdings in First Trust Materials AlphaDEX Fund by 25.7% during the fourth quarter. NBC Securities Inc. now owns 837 shares of the company’s stock worth $54,000 after purchasing an additional 171 shares during the last quarter. Parallel Advisors LLC raised its holdings in First Trust Materials AlphaDEX Fund by 25.6% during the first quarter. Parallel Advisors LLC now owns 1,225 shares of the company’s stock worth $93,000 after purchasing an additional 250 shares during the last quarter. NewEdge Advisors LLC raised its holdings in First Trust Materials AlphaDEX Fund by 75.7% during the first quarter. NewEdge Advisors LLC now owns 1,509 shares of the company’s stock worth $115,000 after purchasing an additional 650 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in First Trust Materials AlphaDEX Fund during the first quarter worth $205,000.

About First Trust Materials AlphaDEX Fund

The First Trust Materials AlphaDEX Fund (FXZ) is an exchange-traded fund that is based on the StrataQuant Materials index. The fund tracks a tiered, equal-weighted index of large- and mid-cap basic materials firms in the US. Holdings are selected and weighted based on growth and value metrics. FXZ was launched on May 8, 2007 and is managed by First Trust.