First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) Sees Strong Trading Volume – Should You Buy?

Shares of First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) saw an uptick in trading volume on Wednesday . 67,864 shares were traded during mid-day 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 Trading Down 3.0 %

The company’s 50 day simple moving average is $148.23 and its 200-day simple moving average is $146.96. The firm has a market cap of $1.21 billion, a P/E ratio of 23.56 and a beta of 1.17.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FXL. Raymond James Financial Inc. bought a new stake in shares of First Trust Technology AlphaDEX Fund during the fourth quarter valued at approximately $65,823,000. Independent Advisor Alliance purchased a new stake in First Trust Technology AlphaDEX Fund in the 4th quarter worth $11,729,000. LPL Financial LLC boosted its holdings 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 purchasing an additional 45,684 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of First Trust Technology AlphaDEX Fund during the fourth quarter valued at about $5,129,000. Finally, Navellier & Associates Inc. bought a new stake in shares of First Trust Technology AlphaDEX Fund in the fourth quarter worth about $3,334,000.

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.